@Brian SinclairI don't know if it fits this low-priced deal is a good fit butI like joint ventures with sellers where 70% of ARV is just too low, so the seller always rejects itSo on alternative is to do a joint venture with the seller, give a note with no payments for four months, now you're on title, you fix it, then resell it, and pay off their note when it resellsExample, $200,000 house, 20,000 in repairs, 70% of ARV minus repairs is 120,000 net to sellerFor the joint venture, figure 10% for resale costs or $20,000, add in $20,000 repair bill, add in $2000 in private lender interest, and a joint venture fee of $10,000 for the real estate investorThis is a better result for the seller, netting the seller $148,000

Look forward to future post on your real life results which is most valuable to the community.

362 Apartment complexafter repairs and new management, I think we can increase profitability 25%there are total of 6 apt complexes around, average rent for they other approx. 650.00, this complex average 555.00 month, If repairs, cosmetics are done rent can be raise to match area around to 600-650, witch will give a increase of 45- 90 dollars a unit. and 56 units that need repairs will increase there also. i figure a 2 year plan until profitability.

362 Apartment ComplexAfter repairs and new management, I think we can increase profitability 25%there are total of 6 apt complexes around, average rent for they other approx. 650.00, this complex average 555.00 month, If repairs, cosmetics are done rent can be raise to match area around to 600-650, witch will give a increase of 45- 90 dollars a unit. and 56 units that need repairs will increase there also. i figure a 2 year plan until profitability.Net Operating Income from Mar 2014 thru April 2015 is 1,078,360.50

With that being said, don't immediately make changes if you don't see results immediately... however if the ROI is consistently low, then you should be figuring out a way to improve the marketing.  

there are so many 2 family homes with all kinds of configurations there. the best you will be able to do is try and match the rest of the house, square foot, number of baths etc. you may be able to get away with a 6 bedroom house as a comp, 3 and 3. i know i am having the same trouble with a house i own in PA, its under contract but when they came back there was no exact comps to mine, we are in the process of fighting what the appraiser came up with right now, they came up with $38,000 under my list, but i know i priced it right based on price per square foot and whats in it, 2 family with 3 and and 1 bath each. try averaging what a 2 family sells for per square foot, that should give you an idea. then sell it to me for 100,000 less - just kidding, but you can let me know if you do decide to sell, I'm in the town next door.

If you end up with a broken shade, you might be able to find a match there, or just buy a whole used set for cheap.

Depending on how competitive your brokers are, they may or may not be able to match or beat the other's offer.

if you're aware of drug usage and something occurs at your apartment resulting in damage or injury and it was not disclosed to the other tenants you could be liable    You definitely need to get on top of that situation ASAP

As a result of my growth I got started with quickbooks as I wanted to track everything correctly and use their invoicing feature to bill my tenants and receive rent electronically.