As with all good prognosticators I have to leave a little "wiggle room" in my prediction.

We did a little extra too, adding recessed lighting in the living room, painted the kitchen cabinets, added a 30’x30’ deck, landscaping work (still needs a little more this spring but we plan to do it).We bought it for $160,000.

@Mark McGuire I would think through whether you really "need" that 18k back. 18k is not that much in the grand scheme of things, and the cost to do a re-fi to get access to that capital would probably be around 4k or so.

Hi BP,We have a tenant that MIGHT have vacated from the room rental without completing a final inspection walk-thru that was previously agreed upon. 

The price per room (i have a 5 bed 2 bath) is already fairly low, so there isn't a ton of downward pressure if the economy tanks.

They have been in a downturn so there is a lot of room to run.   

Don't think that in a room of seasoned investors you are going to find a deal they missed. 

@Alan Eisenberg -- If the goal is to get to 100 units (and if your a Grand Cardone follower and make that 1,000 units), I would suggest you stay in an area like Albany, Troy, Schenectady.A property in the $1.25 to $2m range in the Boston area for example isn't going to get you very far.

If you can remove a light fixture from the ceiling in a room (dining room is usually easy since there is a light above where the dining table should be) and see what kind of electrical wiring is used, this will be a great help.

"I value metrics and I hope you do too" to a room full of bored kids - Corey Cowan  jkBut seriously.