We of course do this because a) you'll be doing rehab so the place will be unoccupied for at least a month after purchase and you'll still have to pay expenses (including utilities initially until a tenant assumes those accounts) and b) once a tenant moves out, it is rare for the place to remain to move-in condition AND you to have immediate replacement tenants ready to move in the next day.

In that case, all terms/conditions of the original lease remain in effect.So check the wording of your lease.

When I first moved to Phoenix, I didn't know anyone, so my social life was sparse.

What is the condition of the building and its systems?

I buy a fixer (bad condition in good area) from a flipper for 650k and this IS FMV.

The other 4 seemed to be in reasonable condition.

I've spent the last few years getting my finances and credit in excellent condition so I can finally get into real estate.

The only way to really take risk on these buildings is to assume you have a solid set of bones or go by outside condition and figure everything inside needs to be replaced. running numbers on anything but this would be pure un educated gambling.

If you keep properties in great condition and handle issues promptly you will take a lot of variables out especially when it comes to filling and having vancancies.

As new to the US real estate (i am a foreigner) I want to start with multifamily (ideally apartment buildings) already rented and in OK condition to generate immediate cash flow without having to incur large expenses in the first year(s).I am looking in PA (as I have some connections in RE there) or FL (nice weather).