A water heater will often last 9-12 years, I saw one yesterday at an inspection that was 24 and still cranking.Also consider non mechnaicals like floors, light fixtures and interior doors and trim, kitchen cabinets etc..

Justin, Spoke with my favorite broker today and he believes that the rates are floored and will not go lower. 2.8 is unreal, and if you can save 275 a month and plan to stay long term - it sounds like a slam dunk.

He designed/remodeled a kitchen and replaced all of the flooring in one of my units. 

Flooring (they look terrible in the pictures and not long lasting)6.

I refaced the cabinets, new flooring throughout.

Most likely you have CMX2 or CMX2.5 zoning, which is Commercial Mixed-use (CMX) by right, which means you're actually required to have ground floor commercial across the entire frontage of the building and for the first 30' of depth, then can have residential in the rear (beyond the 30' depth) and on the floors above.

If not then need to budget for floors 10 year life span, appliances and hot water heater 12 year life span, hvac 20 year life span, bath and kitchen remodel 20 year life spa, etc.

It needed new kitchen, new bathroom, paint inside and out, new kitchen, new floor coverings, new fence and small roof repair.Deal was structured as follows:$301,500 purchase price$20k downimmediate possession6 months to pay the balance$45,000 repair and closing costs$425,000 sale pricesale achieved 3mos 1 week after possession (was help up due to xmas)$78,500 net profit

Here’s my question, are there investors out there that actually buy property without having seen them physically themselves; buying without stepping foot in and walking the floors?

At 7pm on 2/29 I met them at the townhome (3br/2.5ba about $1500 a month), where we went over the townhome in detail, it needed some cleaning but the floors and the walls were good.