LOLThe next fastest way is to get your *** out of bed work it off until you pass out at your desk.

Hello BP,I am going to do this thread as a thank you to all the help I have recieved from others on this site, and I am hoping it will help others to see me go through this process.Intitial closing and lessons learned here : http://www.biggerpockets.com/forums/311/topics/153...Now for the rehab since I am now the owner of this 1960's 3 bed / 1.5 bath home.( I am hoping that the picture is rightside up as it is showing upside down currently as I am typing)This is a rough mock up of the layout of the house https://drive.google.com/file/d/0Bw4tlga09RSJN3hyU...And here are some initial pictures of the inside of the house.Living room (pictures are upside down again, if you open in a new window they are right side up though)KitchenDinning room (opposite of kitchen)Bedroom #1Full bath2nd bedroomhalf bath (jack and jill to bedroom 2 and 3)Bedroom 3 (master or at least biggest)Dinning room to living room with partial kitchenback of house with a shot of the covered porch.So that's how this project started, I went out to contractors with the following SOWhttps://drive.google.com/file/d/0Bw4tlga09RSJX0VBL...This was my first experience going to to bid for contractors and I saw the range of contractors from folks that were professional to those that well were not.  

I have found one 4 unit house and looking for your help with deal analysis, below are the details of the property.1) House located in Stratford, CT, built in 1860 so very old house needs total renovation.Price:$279,900Units: 4 (all are 2 bed 1 baths)DOM:162Total SqFt +/-:5,406 +/-$/SqFt:$51.78Zoning:RS-4Acres:0.35 Acres +/-Age:154 years (1860)Lot Desc:LEVELAttic:YesExterior:Stone, StuccoRoofASPHLTHeat:Gas, HT/WTRCooling:NoneBasement:Crawl Space, Full, PartialWater/Sewer:City Water, Sewer, Sewer FeesGarage/Parking:OFF/STWaterfront:NoREO:NoWhen I looked at the property there seems to be water in the basement at some point, so i am thinking it might be in flood zone (I have to confirm with agent yet).

Got out of bed at 10am.

That aside, I am having trouble making this deal make SENSE in the REI point of view.I got a conservative projection: for a 550K 4 bed house, projected Gross Rental Income is 25K?

It's a 3 bed 2 bath.

Just like my clothes, they are not fancy because I am getting stuff done, I can throw a waterheater and scratch up the bed of my truck and it doesn't faze me, same with my clothes.My lawyer had a nicr vehicle and from my understanding of what his financial picture looks like I have no problem with that because I am confident he can afford it.

I have found some listings that contain incorrect tax amounts, incorrect square footage, and missing beds/baths.

While walking back to my truck I looked in the contractors truck-bed and saw a bunch of bracket-like things all piled up.

Am looking at a 2 bed, 1 bath SFH that is currently owner occupied.asking price is $189KTaxes are $4000Looking to put $75K down.It is very close to where I work and from all appearances looks like it is in pretty good shape.