Total Cost: $65,000 + closing costs-------Monthly Total Rent (based on ten comps): $3,162MONTHLY EXPENSES based on current rentalVacancy Allowance 26% (conservatively based on ten comps): $822Utilities (15 trash, 100 electricity, 50 gas, 65 water, 80 internet): $245Supplies budget (dish soap, etc) $30Groundskeeper/Repairs (5% gross income) $158Capital expenses reserve (5% gross income) $158Quarterly maintenance fund (5% gross income) $158Insurance $671.2% Property tax $60TOTAL MONTHLY EXPENSES: $1,698------Monthly NOI $1,464Annual NOI $17,563Cap rate (NOI/ total cost): roughly 27.02% (closing costs TBD)Two specific questions:1) I would like to finance this deal via private money.

The occasional duplex and Tri but mostly in 'warzones' - some with potential but still carrying risk as nowhere near gentrification. 

I force myself to go on occasional vacations because it's what my wife enjoys, and I enjoy her not being pissed off at me, haha. 

Familiarize yourself with relevant laws, consult with attorneys if needed, connect with your local housing authority to understand their processes, and network with experienced landlords for insights and tips.Advantages:Guaranteed Rent: Reliable government-backed payments.Steady Demand: Consistent demand lowers vacancies.Market Stability: Rent limits based on fair market rates.Disadvantages:Regulations: Stringent rules and inspections.Paperwork: Complex administrative tasks.Rent Delays: Occasional payment delays.Workload:Regular property inspections.Extensive documentation.Fair housing compliance.Frequent communication.Tips for Success:Understand the Program: Master Section 8 rules.Screen Tenants: Vigilant tenant screening.Maintain Good Communication: Clear lines of contact.Document Everything: Detailed record-keeping.Red Flags:Late payments.Tenant complaints or violations.Frequent inspections or non-compliance.Tenant Relations:Treat with respect.Promptly address repairs.Clear communication in lease.If you find a specific property you are interested in feel free to send me a PMThanks*

I have many properties in Greenville.All my tenants are responsible for the yard.I have the right to get it done for them and charge them for the work, but have never had to go that route.I occasionally have to remind a new tenant to cut the grass but they usually get whipped into shape relatively quickly. 

It's a number game- the vast majority of my overs are rejected but occasionally one is accepted.

Long story short most of being a PM is screening tenants with occasional reach out,  I never liked the idea of paying company 10's of thousands of dollars to screen tenants if you can set up the back end system yourself.  

We do hear an occasional complaint (no one likes how expensive water is), but we 1) try to explain much of the fee is service line/sewer/(in Escondido) trash 2) that we disclosed the water bill process up front and it has not changed. 

That removes the owner from having to step in and they just review reports every month with an occasional phone call.I know what some are thinking in that all of that oversight comes at an additional cost.

and occasional other planes.