@John BurtleDear property owner, My name is Steve and I would like to buy your property at Address If you are interested in selling please contact me at number I look forward to speaking with you Thank you Steve There are probably 500 different letters but I think you need a few things: 1.

Hi Thomas,Don't know any inspectors in NC but just listened to a great podcast "Understanding R.E.Property Inspection Basics w/ Wally Conway on The Wheelbarrow profits podcast w/ Gino Barbaro and they're addressing multi - unit inspections.Best,Johanna

You can still make it work and earn good money if you don't overspend on the rehab.

Also, would I be able to borrow enough with the new mortgage to rehab it or is that usually with borrowe money like credit cards and smaller loans?

The rehab costs have far surpassed our budget due to some masked  issues(missing copper lines in walls, dangerous wiring almost throughout...all covered with sheetrock) Also, the city is requiring us to pour new approaches at "multifamily" thicknesses; about $9k worth. 

Here are some other things that could go wrong which may cause failures:Unknown necessary repairs (i.e. sewer lines, roof, etc)Not having cash reserves to cover vacancies / major repairsUptick of crime / vandalism in neighborhoodVandalism of propertyInfestations (pests, other)Bad tenants / No tenants / tenant family issue impacting stay (i.e. death, divorce)Rezoning of school districts / Loss of accreditation of school district Insufficient Property Management (not addressing tenants concerns, no notification of repairs timely - causing further damage, etc)Not following market pricing on rental / raising rent to frequently or too much at onceLegal issues (i.e. tenants sue for injuries on property, taxation, etc) I think you get the idea.

:)Regarding my expectations from property management companies - I read on our sites that there are companies that do almost anythingThey have "property manager, a handyman, real estate agent, etc.".You need to come with description of what you are looking - let's say duplex and probably more details about the budget for the house, rehab and so on..After giving those details, the companies search for assets, offer it to you, you do your calculations and actually negotiate through themThey will handle the tenants, the mortgage, lawyer, fix issues - But all things should go through meThe problem  - knowing what is a reasonable price for them to manage my property and to trust them : )

The mailing address for the property points to a property that is owned by someone unrelated to the grantees.The property is not in tax title and no liens have been recorded against the property.

I asked if it can be addressed on Tues, the tenant threat me that she/he will get their own plumber and deduct from my rent.

The description in my subject line may be a little confusing - I have experience building, rehabbing, buying and selling, but I have been out of the game for some years.