Keywords: Grand Rapids Michigan

What real estate form is best used for this in Grand Rapids?  

There's also the consideration that it may cost 5 grand or so to get it cleaned up to the point where I can get a renter in there.  

I pay the water in my 3 Grand Rapids Properties.  

At two grand cash per year your going to be negating with a single months vacancy plus re-rent costs.

We're feeling a bit sad with the inventory we've seen in Grand Rapids. 

You live in the OC and nothing is selling here below a few hundred grand, unless maybe some dumpy 1 bed condo in a horrible location.

I bought in a suburb of Atlanta, GA.The Numbers (all annualized):Paid Cash: $77,400Rehab: $21,000 ( estimate was $16k, but when we turned the power on after closing, the HVAC unit was dead).Closing, commission, legal and other: 10,000All in: $108,400Current comps: $115,000Rent: $13,140 Management: $1051.20Insurance: $700 HOA: $150 Property tax: $1,527 NOI: $9,711.8Cap rate: 8.4%The HVAC unit cost 5 grand and was an unpleasant surprise.

My earnest money offers are never more than $1,000. 15 grand is a lot of cash to tie up unless you're really flush with money.

Don't try to hit a grand slam this year.