In addition, the gas and electric was in the tenant name.

Needs everything, electric, plumbing rough & finish, HVAC, insulation, drywall, kitchen etc.

Insert cars, knives, rocks, electrical outlets, tornados etc.

My first four were successful, as a tenant buying from an owner, a couple really didn't want to sell initially but I kept at it, bugged them and they gave in.

Here is this info:3 unit property - fully rentedAsking price: $99,900Unit 1 - 2 bed, 1 bath, $500Unit 2 - 2 bed, 1 bath, $500Unit 3 - 3+ bed, 1 bath, $800Taxes - $4,105 (2012)Owner pays sewer and waterTenants pay electric and heatAll separate utilitiesNote - I plan on adding a few properties per year and will certainly be hiring a professional property manager from the get-go.

Ditto with electrical.

I buy most electrical supplies online off Amazon or EBay.

I don't think you can assign a real formula, because for every deal there needs to be some flexabliity and some deals will need to have more profit to offset opportunity costsSome examples- A SFH working right now that needs new heat system, new kitchen and baths requiring a total out of pocket of 50-60K after down payment, finance costs, carrying costs, ect might be worth while for a 30-40k profitHowever a major addition, new heat system, new electric system, add a half bath on existing main level, and otherwise total gut requiring 100K out of pocket might not be worth doing.

Unit is a 1 bedroom condo unit in an older apartment building that shows poorly and needs electrical, new kitchen, water heater.

I'd consider any Nash Metropolitian to be a hybird, not electric, but a hybird that flew alone from the flock.