Or you could simply just include a flat fee in the rent and advertise the units having certain utilities paid for.Offering below list price is difficult (but not impossible) in western WA, so you need to identify other value add opportunities that will decrease expenses or increase cash flow.

Since the COOP building has an underlying mortgage, if one or several such wholesalers can't pay their monthly fees, the COOP cannot pay the underlying mortgage, the bank can foreclose on the entire building.Condos does not run into this same problem, has it has no underlying mortgage, though banks have foreclosed on sponsors.

Now a I have a question, what are all the fees you have to pay at closing day when you are getting a assigned contract ?

One of the requirements for the building is a monthly HOA fee of $270.

now there's a whole foods a block way. it has covered parking in an area very crowded even for street parking.so for me key things to look for are Location, HOA, and HOA fees, and parking situation.

Second, as someone said, you should have checked on rental prices and comps before buying since optimistically with construction costs of 100 per sq ft, a 2k sq ft multifamily is easily going to be in the 200-250k construction costs including permits, fees etcAt that level, you would need to collect 2k in rent a month just  break even on the construction + costs.

Is there a HOA fee?

@David Ribardo and @Joe C jump in with any edits/comments you might have Purchase Price $149,900 (50K a door rule looks good) Three units total gross/month 2239 (1% rule looks good) Fixed expenses: Taxes 2517, Trash 1125 (375/unit in Allentown unless private collection deal previously arranged) Insurance: 703 Common Electric: 519Water/Sewer: 802Allentown Fee: 225 (75/unit/year) Variable Expenses:  Vacancy: 2239 (One months rent of each place, or 8.3%) Management: 1800 (50/door/month) CapEx/Maintenance: 3000 (1000/door) Total Operating Expenses: $12,930 Total Gross Income: $26,868Net Operating Income: Op Ex - Gross = $13,938 Divide your NOI by the cap rate your looking for and you have your offer price.

Hello all from Tucson Arizona.I am a Landlord and one of my biggest issue is finding ways to make sure my tenants pay rent on time and without fees.As of the time of this post Zellepay through Wells Fargo is without fees (but you and I know this won't last).My tenants who are under 30 seem to like this option very much.Wells Fargo and many banking institutions offer Zellepay.

Now...according to my lease they have to give a 60 day notice, plus they pay a fee equal to 1 month rent, $1295 in this case.