We won't be at scale for importing construction products unless we are doing a lot more volume than currently doing so I am interested in reaching out to other investors doing volume to subsidize our own and begin importing containers of common builder spec materials.

I will manage these buildings, I currently manage another 4 unit building in the same area and know with updates the total rents could increase $3-4$k/yr.Current Rents:  $3900/mo $46,800/yearVacancy: 10% $4,680/yr (actual vacancy rate for area is below 5%)Taxes: $3838/yrInsurance: $2840/yr for cash value not replacement cost (getting more quotes)Maintenance: $4500/yrUtilities: $6,500 (owner currently pays common electric, sewer/trash, and buildings are on well so softener salt and electricity for water pumps.)Budgeting $5k/yr for capexLeaves: $19,442 for debt and cash flow

One of my newer properties, the tenant has a common law marriage with the man that assaulted her.

I think the scrapes will be less common north of 44th because of the zoning.

The 50% rule is common, but a well managed property, especially an MFU, can-should be operated at 30% expense/GSI.At the early stages of evaluating a prospective purchase, 80% is IMO, beyond hope of becoming profitable.  

I see this parking spot as a common element-part of the property but deeded to no particular unit, so not a limited common element. 

You do understand the difference between the common area policy (hopefully) carried by your HOA and the policy you are carrying for your unit don't you?

I've been consuming many of Josh and Brandon's podcasts on my drive to and from work and just recently finished reading the very common "Rich Dad Poor Dad."  

In my area there is a lot of older housing from 1900s on smaller lots so conversion activities vs adding new additions is common.

Most condo policies cover your unit (stud in) the HOA covers the building (studs out) and common areas.