All units are in excellent shape.3- mobile homes $650 each metals roofs all in excellent condition.Everything is 100% occupied (except owners house) with many long term section 8 tenants.Expenses on the rented units ran right at $15,000.

We are experienced in real estate but recently started the investment aspect.

Item Cost Life years Months Cost Per Month Roof $ 6,000.00 25 300 $ 20.00 HVAC $ 4,500.00 15 180 $ 25.00 Hot H2O $ 550.00 8 96 $ 5.73 Flooring Carpet $ 1,800.00 5 60 $ 30.00 Flooring Laminate Wood $ 1,800.00 10 120 $ 15.00 Interior Paint $ 2,500.00 6 72 $ 34.72 Exterior Paint $ 3,000.00 8 96 $ 31.25 Revamp Plumbing $ 1,500.00 20 240 $ 6.25 Revamp Electrical $ 3,500.00 30 360 $ 9.72 Misc $ 200.00 1 12 $ 16.67 Monthly CapEx Allowance _ _ _ $ 179.34 

To back this up I’ve set myself a goal to highlight some MLS Stockton Multifamily properties that I think are representative of a particular aspect of the Stockton market.

You really do have a heck of a lot to learn about lots of different aspects of this asset class and business.  

I owned this prop since ’99, I am nearing retirement and don’t care for the hassles of property management and maintenance aspects.

I don't mind buying a house that might need roof work, minor plumbing/electrical, drywall and paint.

It is a good community to network and learn about all aspects of real-estate investing.

Redoing the electrical, or a new roof, the big $15k things, is not recurring in the sense that it would be reasonable to include in a two year average.

Maybe they ran out of money or don't want it for another reason - either way we're interested because they've done most of the hard work.Sean mentioned that usually the toughest part in starting a project is the demolition aspect, getting down to the walls is important so you can see what's behind everything.The property is on the market for 180k, that's not going to happen so we'd make an offer around ~115k ideally.