. - I cannot imagine blindly trusting a PM company - "oh yea it's going to cost $500, we replaced the fridge, then another $700 for this electrical work, then there was some clogs in the drains so that's another $300, we had to do extra yardwork that'll be another $200".

It depends on the condition of the house and what updates have been done to the structure, electrical, plumbing, etc.

This was my first large project that included an addition of 900 sqft and a 2 car garage, all new electrical, plumbing, roof.

I've come across a few interesting ones, but they are built in the 1950's, 40's and 30's.I know some of the things that I need to consider in these older properties when deciding what price to offer is potentially upgrading the plumbing, electrical, insulation, etc.So I wanted to get some feedback on how to get a sense on how to estimate the costs to repair plumbing and electrical?

How new are the roof, HVAC, Electrical that you only budgeted 5% for these?

Pat - congrats on getting started at such a young age, I was about your age when I caught the Real Estate bug.

Cabinets, floors, plumbing, electrical etc.

Income of $200 and you have an electric bill higher than that.

Much cheaper when there isn't electrical work or stuff that requires permits.

I think you should have an overall vacancy rate that is much lower than 10%2) Electricity, Water, Sewer should all be removed because the Tenant will be paying for those utilities3) Garbage should be included in the tax bill instead of outside expense4) Property management can be brought down to $60/single family home