You definitely want to perform a more detailed analysis before moving forward.

My lender lumps all my debt together, including rental property, and then performs a DTI using 80% (I recall) of the revenue generated from my rental income and inculudes that as regular income.

I projected a 21 % leveraged cash on cash return but in reality it has been performing much higher.

Alan I would google Ray Alcorn's article on performing due diligence on commercial properties (applies to residential as well) and investigate this deal (and all others) thoroughly.

He's gonna perform a load calculation, take a look at the support to see if it's exhibiting any stress and then tell you that it's been functioning for 113 years and will probably continue to function for years to come.

Several on this forum have casually thrown this idea out there, but I've yet to see phone numbers or websites, etc.

I would be willing to bet that if you worked with the tenants that want to stay you would be able to get in the unit with their cooperation and paint or perform some other improvements along with what you mentioned.

Then if it warrants I book an appointment to come out and see the house and will usually make a verbal offer based on my diligence to that point.I already have performed my comps, I already have a price range that the seller was willing to accept or even the least amount of cash they want, and now at my visit I have a good idea of my rehab costs.

About a year ago I purchased a duplex penthouse apartment on a luxury golf estate near Mar Menor in Spain. Only after purchasing the property did I become aware of the fact that, as a non-EU resident, I have to pay...

We have a 60 day due dillegence period and plan on hiring a local property mananement company to perform an independent assessment of the property.