The basement apartment pretty much always attracts the lowest quality tenant in any given area.

Neighbours very often do not get along with renters and renters will often leverage their position if they find out a unit is illegal.The problem usually arises out of the fact that cellar dwellers are generally low quality tenants and can cause problems that often result in complaints to oficials..  

I established a team at location and would like to bounce my numbers off the BP community and would like to know if I am leaving anything out.PURCHASE PRICE: $195,000PURCHASE CLOSING COSTS $3,000ESTIMATED REPAIRS $50,000TOTAL PROJECT COSTS $248,000AFTER REPAIR VALUE $373,968DOWN PAYMENT $19,500LOAN AMOUNT $225,000LOAN POINTS 2%AMORTIZED OVER 1YRLOAN INTEREST RATE 12%NEEDED FOR CLOSING $25,000/ r

Needs about 3-5 in repairs can rent for 900-1000 has heating and air roof is about 5yrs old

Most REO sellers will not turn on or allow water to be turned on, or allow repairs for appraisals or before closing, most secondary market loans require all utilities to be on at time of appraisal, minimum 5 years or more roof life left, no holes in walls or flooring larger than a quarter,  or significantly soiled flooring, walls, ect. 

Would repair costs be included with the conventional loan?

Gave great advice and connected me with an inspector who had an eye for flipping and was able to connect me with low cost / high quality subs.

I put that the reason for this is because: significant repairs beyond the normal wear and tear (then I list ALL major repairs) and sometimes I have purchased homes because of a divorce and the home needs no repairs.

Coordinate all non-emergency repairs with my Project Management Company and our assigned handymen for execution

heynot sure if this is the correct sub-forum but i'l give it a go. planning on buying a property, long term rental, all cash. now, say i have around 500$ coming in to my account every month (this is in theory, after all expenses are paid and taking into account vacancy, small repairs, capex etc'). current plan is buy a property every once a while (at least every 2 years, could be less once mortgages will be an option for me, non us citizen starting to invest here. talking about properties in the range of 60-80k). letting the money sit in the account until i buy my next property does not seem optimal to me, but on the other hand investing it in the stock market or something like that does not sound good either because i will need that money in a short period. perhaps i'm overthinking it but i'm trying to see i'm leaving any money on the floor so to speak :)what do people around here do?