Kitchen still needs to be updated, deck needs to be placed, bathroom updated, replace windows, and some landscaping. 

I tore down some load bearing walls to open up the kitchen, added HVAC upstairs (no previous ducts or ventilation), demolished part of the garage to subdivide & sell of the lot in the backyard, and redoing all of the bathrooms/ceilings/paint textures/landscape in the entirety.

I tore down some load bearing walls to open up the kitchen, added HVAC upstairs (no previous ducts or ventilation), demolished part of the garage to subdivide & sell of the lot in the backyard, and redoing all of the bathrooms/ceilings/paint textures/landscape in the entirety.

I tore down some load bearing walls to open up the kitchen, added HVAC upstairs (no previous ducts or ventilation), demolished part of the garage to subdivide & sell of the lot in the backyard, and redoing all of the bathrooms/ceilings/paint textures/landscape in the entirety.

Looks like I should have included more specifics in this equation - thanks for the feedback - This would be a new purpose built freestanding duplex townhouse that is part of an assoc - HOA of $100 per mo covers outside maint and repairs - investor would put down $80k and I would bring about 10k to cover points and closing costs  - I accounted for 5% vacancy and 5% maint but no additional capital expense due to new build, HOA covering roof/siding/landscape etc and a projected sell in 5 years - rents would cover all expenses including taxes etc -pay me 7% management fee and make investor $260 per month - homes are appreciating at about 7% per year for 10 years so I went conservative and estimated a 5% growth going forward - as I stated in my earlier post this is a VERY hot growth/job market

Financing over 5 units will be with commercial side of bank.6) At a high level none, but there may be more contracts you are negotiating: trash service, valet trash for tenants, landscaping, etc.7) I would never invest in a deal that the sponsor could refi me out of, unless I was a debt investor.  

The keys are obviously the location, access, demographics, rent comps, condition of the property and utilities serving the center.

Additionally, Indy has strong economic and demographic trends, a modern, diverse economy and is very landlord friendly.

It’s attractive to us because a) we could move into it and rent the second unit of our house-hack multi, b) we could rent it for short or long term and be living next door to manage it, c) we could have a place for family some day if needed d) we could have control over the look and occupancy of the neighboring property, which is important since we are right in town, e) we could connect it to ours via creative landscaping and create a compound of sorts.

But there are far scarier things lurking that are worth running from - capital expenses, neighborhood quality, regional demographics, class of real estate altogether (commercial, industrial residential etc), stagnating appreciation.