It would be my guess that on average most people dealing in RE, I know it is for sure with agents, do very poorly.The answer is something you will have to learn on your own and it will depend entirely on your effectiveness, which is a result of your efforts, time spent, and abilities, combined with your resources.This is area specific so your best bet would be to find people in your area and figure out what is going on with them.

If not with increased management fee you are looking closer to 60% to 65% cost and not 50% annually.Tenants not directly billed bu the water authority use about 30 to 35% more water monthly and do not report water leaks.If the tenants are not paying then you will have months of lost rent,damage to the units,and reconditioning costs.You need to pay close attention to the EXISTING tenant base going in.Run your own checks on them.The existing landlord might have just filled the building up to dump off crap tenants on someone else.The fact that this property has changed hands so frequently leads me to believe it has serious problems.People get think they get a deal and then want to jump off the burning ship quick before going down.Check title history chain and see if you can locate previous owners,their attorney etc. on documents.You can also look up if a previous corp bought it and the controlling officers.

I read again and again that a person needs a mentor to move ahead and that the opportunity cost of taking the wrong actions, wheel reinvention, or not taking action usually far outweighs the cost of an effective program.

Are reno's more cost effective or cheaper without a contractor?

Lessee shall obtain a Lessee’s insurance policy to cover damage or loss of personal possessions, as well as losses resulting from their negligence.

If in combination you only have $10k, this will mitigate the property purchases you can make which will indirectly effect your potential gross income in fix and flip situations.Once you sit down with the attorney, go sit with an accountant so you all get educated on how it all works.

THANK YOU to everyone who commented my posts and contributed to the thousands of topics on this site, to help me understand what I bring to the table, and be able to communicate that effectively to someone with money, looking for better returns.

Direct advertising via the internet, forums like this etc. is not likely to be effective.

Its relatively new structure(1995) and it goes for relatively cheap price.However, it has some damage to the ceiling sheet rock and plumbing was also damaged.

If the damage shall exceed such sum, Seller shall promptly notify buyer in writing of the damage and this offer may be canceled at option of buyer.