Hi everyone,I found a deal that can annually generate $17k annually in rent, @ 100% occupancy, AFTER taxes, mortgage, maintenance fees, internet, utilities, etc.Plan: Master Lease Option property with a downpayment ($15K) from a private/hard money lender.

Water/sewer $400/qrtr, Even with reserving 20% for vacancy (that's what banks around here use), 10% for capex,  5% for maintenance, would manage myself so I didn't include PM reserve/expense, $100/garbage, $100/month insurance. 

Additionally, they typically demand the highest rent with little or no deferred maintenance issues.

You have a breakdown of maintenance obligations, cost recoveries, annual reconciliations.

That means putting money aside for vacancies/non-payers, maintenance and repairs, and utilities.

The dues cover such community expenses as snow removal, landscaping, and expenses for maintenance of common areas.

4plexList $89,900 (Following figures are based of purchase price of $82,500 cash deal)Income $2540Vacancy reserves 20% (that's what most banks around here use)Capex 10%maintenance 5%No PM expense/reserve as I would manage myself.Taxes $4000/yr Insurance $100/moFlood Insurance $100/mo (on the very edge of flood zone)Garbage $100/moHeat allowance of $300/mo (the remainder of the bill divided equally between the 4 units until I can separate heating by units)Water $135/moCash Flow $582/moI don't plan to touch any income until I find another property and then would probably refi cash out for down payment on the next property.Any insight would great. 

I lucked out on the first community I bought - some deferred maintenance that took 5-6 years to lick, but I had money in the budget to cover.

There's no reason to think that he's up to no good.Good news is that this dude's not going to be high maintenance in terms of "waaah change this lightbulb" or "the door is squeaking."

I would love to work with other members of Bigger Pockets on any project they may have. I am in the process of re-expanding my business after the downturn of the last recession. We handle anything from the tip of the ...