Any thoughts on the purchase as well would be appreciated.Operating expenses/yearIncome / yearTotalRental income$655,249$655,249Laudry income$36,000$36,000Parking income$18,000$18,000Effective income$709,249$709,249Property tax$92,523Property Insurance$14,565Water/sewer$30,000Gas$20,000Advertisment$1,100Office$5,100Professional fees$2,713Property managment fee$18,000Waste managementCityHydro$170,000Maintenance and repairs$36,968Snow removal$4,000Total394,969$394,969Net operating income$314,280Cap rate about a 6% cap

@James Rodgers I hope so I'm getting in touch with GC's at the moment to get multiple bids on everything from roofing and tree removal to a general overhaul on the inside.

I have asked to have them removed, but there has been no response from the board.

(Which, obviously major lenders do not let happen as they monitor the taxes if the account/loan is not impounded.)I concentrate on doing Loan Modifications for distressed owners, and at times we need to do a sale/short sale and we can get the IRS lien removed, other times no.  

you should be able to take the title of the property to the sheriff and have them removed for trespassingI'm not sure of your state but here in AZ it is called trespassing and some of these folks get out the steeltalk to a para legal to get all the laws to play your handbest of luckenjoy

Normally, $750.00 a month for most of the homes they were looking at.They would say to me, "Well if I removed that tree, and tore out the carpeting and put all hardwood floors inside the house, and built a nice deck in the backyard, and put in a marble island in the kitchen and different cupboards, how much rent could I get then?"

There are things you can do to increase it....You need at least a 620 credit score for conventional.A few examples:pay off collections and judgements, with an agreement that they will remove from your credit scoremake payments on timepay down debtIf you have a foreclosure, you will not get conventional financing for 7 years.If you have a bankruptcy, you have to wait 3 years from discharge for conventional.

Now the deal...Financing:Potential purchase $80,000 per Duplex $16,000 down (20%)$64,000 @ 5% = $345/modouble this since there are two Duplexes$690/mo debt service for both DuplexesIncome:$26,400/yrEach unit is rented for $550/moExpenses:Taxes ~$4,000, Insurance ~ $1,600Lawn care/snow removal ~ $2,400Maint. reserves ~ $2,400Factoring a 7% vacancy (7% is conservative for the area)NOI ~ $14,152Cash Flow: $5,872$14,152 - $8,280 (debt service) = $5,872ROI: 18%Cap Rate: 8.8%COC: 40%$14,152 / $35,200 (downpayment + closing cost) = 40%3.

It's a short form for emergency removal of deck and replacing it with another one on same footprint.

The mold was removed by me.