I never thought of wholesaling it, just because my end goal is to live in the houses that I'm knocking, but I guess if the sales price was right I wouldn't be opposed to the idea.

It can go as high as 30% to 40% with additional "repairs" and phantom service calls.I have found it easier to manage the tenants directly as opposed to managing the manager.

However, if you are trying to grow your IRA wealth with an asset you are familiar with and can count on income and growth from (as opposed to taking chances in the stock market), then the depreciation and other write-offs you could take if done as a personal investment become moot.  

I'm not able to find a good spreadsheet and wonder if what I analyze for SFR will suffice for multiple family units. 1st time multi for me.I looked at the quad exterior and the neighborhood earlier today and attempted to put together some numbers based on what I found so far.Built:1980 (roof is a concern since it's never been replaced. upon visual inspection it needs to be replaced) So I'm told, owner bought for son in school and now wants to sell.Appears current owner has done no upgrades since purchase in 2005Purchase -$237k list (owner purchased in 2005 for $225)$188k offer (all systems original including roof) this may change after viewing30yr term4.5% rate20% down$150,400 note$762.05 (P&I)Rental -Called a couple of places with same-like-properties.

Anyways, we found one for sale in our small town, and the general details are below:Asking price: $275,000Expected first year improvements: $7000Year built: 1985Unit detail: 4 apartments, 790sf each, 2 bed/1 bath, individual heat pump and exterior storage closet (unfinished), electric stove and refrigerator included, washer/dryer room w/ hookupsTotal finished area: 3140sf on .22 acres w/ paved parking lot and sidewalks, 2-story buildingRentEach unit is currently rented with tenants ranging from 20 years of tenancy to 3 years. 

It was built in 1979 and it was mostly original with 2 bedrooms and 1 bathroom added by an enclosed garage (exterior appeared to be done by a pro and interior by a homeowner).  

Beautiful exterior!

I had one HVAC company charging me 3x the Home Depot price of a heater, so I got a good contractor (had him some 15ys now) to do the job for 2x - - nice savings.Had an issue with a well know plumbing company wanting 14k to tear out a bathtub and jackhammer the foundation to solve a backup problem :ouch:  I put the job out to bid and we resolved the issue thru the exterior wall - - 2.5k.  

NOLA has some areas that are controlled by the HDLC (Historic district land commision), and that will dramatically affect what you can and can't do on the house (exterior only).  

Wouldn't a sheriff be the solution as opposed to eviction proceedings?