Here are the logistics of the property. 4plex3 2bed 1 bath - $4751 1bed 1 bath - $400Coin Laundry - $75Monthly Gross = $1900(one unit currently empty, two tenants long term older people)Expenses (that they gave me) Insurance = $1891 (2013)Prop Tax = $1684 (2013)Snow/Lawn= $1220 (2012/13)Garbage = $700 (2012)Utilities = $1550 (2012)Heat = $2000 (2012)Total Expenses = $9045 ($753.75/monthly)Cost $125,000.Needs new siding (not going to repaint it), and paint windows.

You always want your sale contract to specify that you are to choose the closing agent and you want to find an investor friendly one for the second transaction.

Daniel Paloscio listsource.com is a great resource, however the amount of parameters you can choose from can be overwhelming.

My current improvement plan is: new roof - its really old and several shigles are gone new flooring throughout - currently concrete new paint in and out - 50% brick/siding ext repair siding on chimney - has rotted away due to water damage new water heater new AC/Furnace repair sheetrock water damage from plumbing leak replace kitchen appliances landscaping replace garage door - wood rotoptional items would include: replacing various fixtures - which ones?

If I had to make a choice between having to have lunch with one of these gurus and a bank robber, I'd take the bank robber.I have no problem at all with selling knowledge or information that is valid, legal and in compliance, ethical and that paints the picture of reality.

Factored in light plumbing, new kitchen, upstairs bathroom, light sheetrock/spackle/paint, siding, all new flooring, and all the other miscellaneous like fans, lights, doors, etc.I have been blessed to be in a family of carpenters (dad, uncles, brother, grandfather) and a family of realtors (mom, stepdad) so things work out quite nicely.

For hazardous waste removal and other junk fees.My rule of thumb these days is to allow -20% profit on a major systems job (roofing, AC replacement)-$2-$2.25 per sq ft of fooring (Tile Hardwood)-$175per day/$25 hour/ per man for painting and handyman workI guess if a plumber can get $500 an hour then more power to him, but hes not getting that from me.And I can relate to your plumber story.

Allow for multiple appraisals with an appraiser (or appraisers) of your sole choosing.

Heck, you will be punished enough when the tenant moves out and you need to scrub/paint/rehab the property.Here such a bylaw would likely not stand-up to a constitutional challenge.

I updated both units - paint, got rid of carpet, updated light fixtures, etc. etc.