You also have to take into consideration this is a condemned building, so you will need to get permits for all the work you will getting done on the property, Also, given that this is SV and not a prime area on the west side your ARV will not be high.

We had a recent FHA quote with 3.5% down in the high 5%’s..What do you expect from the purchase and refinance markets if rates drop by 1%?

I highly recommend taking your deal(s) to your local meetup.

Borrowing from the equity must be done wisely, or you will have negative cash flow and beat high risk due to over-leveraging.NOTE: I use interest rates much lower than they currently are in 2024!

Any website similar to Zillow that has rental listings.

Hello,A good rule of thumb in NC I tell my sellers about: if we get lots of showings in the first 2-4 weeks, but no offers, the price is too high by a good bit (15-25% estimated).If we get showings, and one low ball offer, the price is a little too high (5-10% too high).The longer a property sits on the market, the more likely you'll end up accepting a lower price ...better to go ahead and do a price reduction now and sell it faster, than letting it sit and eventually the market will do the price cut for you. 

On the negative, the listed price is far too high to obtain equilibrium.  

Re utilities you can also call utility co before owning and ask what is high and low over last 12 months, and avr bill, of each unit.

@Jackie Linne It may be worthless if the earn a "high salary" in their day jobs too... 

To reiterate, Effective [Date], the monthly rent for your unit will be increased from [Old Rent] to [New Rent].To make this easier, we will throw in free high-speed internet as part of the deal moving forward.If you have any questions or concerns regarding this change, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address].