The property is a triplex, townhouse style, vynl sided double pane windows, roof is three years old.It was built in 1990Each unit has two beds 1 bath, 850 sq ft and 2 parking spots.

Soon, I was a millionaire and it kept doubling.

There's really a lot, including the entire refrigerator and kitchen, baths, showers, toilets, and most of the mini-blinds.The floor has not been cleaned beyond what I did: there are areas of grease, dirt, and debris throughout the house, including along the walls.

CO2 and smoke detectors have to be in so many places, so many feet from a bedroom and within a certain amount of inches from where the ceiling meets the wall.

They can't touch me if the house looks like hell, but they can FINE ME if I install storm windows without their official permission.And then there's the local ordinance that doesn't allow more than three unrelated people to rent a house, no matter how many bedrooms.

Matthew,Here's an assessment using your most optimistic values, and my optimistic expense=40% rule of thumb.Buy: $92,500Rehab: $7,500Loan: $103,000 (includes orig fee and closing costs)Payment: $685.26 (7%, 30 year)Rent: $1200Expenses: $480NOI: $720Cash flow: $34.74Thats pretty thin, especially in light of all those assumptions.When you say the garage is enclosed, do you mean its been converted to a family room or bedroom?

For example, the last house I bought was a 2 bedroom house with a 2 car garage.

I'm with Connie except for bedrooms.

You may get lucky with a "new" contractor just starting out - but once he realizes what it costs to run a business AND collect a decent wage - his rates will double, tipple, or he will go down in flames taking everyone with him.

I want to make this easy as possible and am trying to avoid assigning, double close, etc.