I am also an engineer and am just getting started up in Cedar Rapids.

some appraisers just dont' really know what to do with such a rapidly appreciating market.  

BP, Members....Any suggestion on what rental property Insurance company to go for (duplex)And someone doing good job on....Painting, Flooring, Cleaning in Grand Rapids, Michigan (SE)Thanks

I feel that I could grow a 3rd party management company fairly rapidly if I decided to.

These increase in 5k increments depending on the amount of work needed)5,000 closing costsTotal out of pocket 22,500Annual Rental income is 31,200 minus 12% vacancy gives you gross income of 27,456Subtract Taxes, Insurance, 11% propperty management, 15% repairs, 15% Capex and your utilities and you are left with a NOI of 6,774.Debt service is 13,515 which gives you:  Cashflow of -6,741Cap Rate: 3%CoC: -30%

I had to reign him in from jumping the bid increments a couple of times. 

The list is going to shrink rapidly in the weeks and especially days before the sale.

My brokerage is listing a vacant commercial lot on a busy highway in a rapidly growing area about a half mile from a brand new Walmart.

greetings from Grand Rapids

We are expecting vacancy to be in the 10% range.The neighborhood is CWe know the rents are below market and there is potential for rent increase in small increments.