I have been sick and tired of the rat race, and have had enough.

Those things which are worn out are still priced $50 - $60K/unit, produce 6-8K revenue, and have 5-7K operating costs {many are being rented with utilities included}.There are a few deals on tired, smaller properties that are still close enough to UdeM or downtown to be viable.Which is better?  

You may run into a tired landlord looking to unload the property.I wouldn't expect your deal rate to be too high but I would definitely be curious if it works.Good luck!

(I think I even did a decent thread on it)  Frankly, it is somewhat tiring.  

It's funny, since I started working in the real estate field in 2003, every 3 weeks I have a week of "I am tired of it", then 3 weeks of "I love real Estate".

Wealth retires once the holdings are sold in BOOM times, or just goes on vacation until it's time to enter the market once again.Choose your life's outcome when all around you are worried about buying in a downturn - wait with the lemmings or swim with the salmon.Both types die at the end of their stories, but salmon get to die tired, and after breeding...Never in history has a penny been truly "lost" - whoever loses control of their money just can't get it back from the person who found it.

Thanks for the correction Will it's late and me is tired so I wasn't thinking clearly :mrgreen:By the way Jason Will is correct on the cash flow calculations.

However, for this particular deal, the owner is a tired, out-of-state landlord that wants to wash their hands of responsibility, so I think getting them to agree to seller financing will be hard enough.

If you don't pay taxes, you don't vote and get a say in how the money is used...tooo radical for some but I'm tired of lazy welfare tenants voting that I should give them more of my money

He is selling it because he has had it 18 years and is tired of being a landlord.It is a fourplex with two 2/1's and two 1/1 studiosGross rents have historically brought in $575 for each 2/1 and $350 each for the studiosI am guessing if you go low on the rents, and do $500 each and studios $300, they would be likely to rent easily.Area is much sought after.