This way you are not bleeding the lot rent monthly in addition to making repairs and marketing.Everyone here respects your ambition and determination to move forward in this niche rain or shine.

Hi Elias,You would need to run an analysis of your market to determine what is possible.For example if all you can buy is sellers wanting a 5 cap in your market with older buildings that those are tough deals to make work.Instead if the pent up renter demand is there and you have a city or county that is pro-growth with planning and zoning than chances are good a new build might work.

HPHow do I get access to Bank owned properties to determine the ARV analysis.

that is determined later when they make offer, etc. 

That ain't fun if you've used your money for deposit, waited 3-6 weeks for court date only to have Johnny come lately snag your deal.In my state, CA, the underlying document you would want to review to determine level of powers in referred to as Letters Testamentary.

The type of tenant will determine your average stay as well.  

If the lease didn't stipulate no smoking, what baseline will you use in front of a judge to determine his smoking resulted in damages above "normal wear and tear"?

Determine your True AVR value and figure 8-10% cost overruns.Hope this helps a little bit based on the small amount of info supplied.Cheers- Derrick 

I live in FL so I know about having to use A\C year round.As you know people mention a brand and price but not model which will ultimately determine the total cost.I was in the exact same situation and due to the rusted coil tubing, and overall condition of the Air Handler decided for a total A\C replacement.Payne is considered "Builders Grade" lowest grade and some A\C guys argue not to install them because it reflects on their reputation when you have problems with the system.Look for the highest seer rated, quietest, best warranty HVAC that is fairly priced.The installer is a HUGE part of the HVAC's life span, along with your regular changing filters, cleaning coils when needed, cleaning drain lines and vacuuming dust out of the Air Handler Cabinet.

Pay by the 5th (date of payment determined by postmark) and tenant gets a $75 discount.