The formal work bid that comes from him will need to show an itemized break down of the total cost of repair between labor and materials. 

Tenants expressed serious concern that they are hearing little girls voices and finding items moved or things out of place.

I appreciate the detailed feedback!  

I’d like more details.

I know Excel basics, but I soon got more caught up in the details of making the spreadsheet rather than finding deals.

The property is a 5 unit building with the following information: Rental income is $4,000 per month or $48,000 per year totalTaxes are $375 per month or $4,500 per year (this is higher than current but factoring in that they will increase)Estimated insurance is $200 per month or $2,400 per yearExpenses: Vacancy 8%Management 10%Other expenses Landlord pays water at $400 per month or $4,800 per year Realize this could be a cost savings in the future, but want to analyze as isGeneral maintenance (including minor repairs on property) including grass and pest control estimate at $300 per month or $3,600 per yearCapital reserves for Cap ex (appliances, windows (52 windows on building), roof, siding, etc. which I based on building a capitalization table based on useful life of items and number of units) at $460 per month or $5,520 per yearLoan: All in after down payment the loan would be for $300,000Assuming 7% interest rateAmortized over 20 yearsThus comes out to $2,325 per month or $27,900 per yearSummary Income Per Year:$48,000Property Exp.

Since we would be assigning this to an investor, we would not have those items right?

It's not just learning all the details of being on your own, but it's the psychological aspect of stepping out and starting on your own rather than coming home to mom and dad.

In addition to having an inspirational story, Paul detailed his investing strategy which is a treasure trove of real-estate gold.

closing costs is a super general term that could involve all sorts of line items, so you really need to break down what fees and expenses you want to /  your lender will allow to be financed, and what you have to pay in cash up front.I prefer to pay as much as possible up front, and usually I pay 100% of any Loan fees and closing costs at the time of a purchase or a refi.