Since it's a repo, I'm uncertain about other major maintenance such as windows, doors and roof.So here goes my take on the strategy:Offer 400,000Get 500,000 hard money to account for rehab and upkeep costsRehab and Rent all 8Refinance mortgage for a value of 700,000, so 80% amount to finance = 560,000Pay off the hard money lender and fees.

So yeah when I can I live in Mid Town Manhattan for 10K per year versus taking on a mortgage in the same area for a comparable sized condo or co-op for 750K, which equates to $3100 Plus maintenance of at least another $1000 then I am much better off with a 10K a year lease.

Will account for property management in calcs but may consider managing myself and hiring handymen for any maintenance/repairs in the beginning.  

Little outdoor maintenance, and they hold up so well.)

Our current residence; view property; we owe $290K, and it has some deferred maintenance required in the next year or so (e.g., roof).  

Don't forget to account for an initial capex hit if there is deferred maintenance.3.

The real estate expenses (depreciation, travel, maintenance, etc.)can be taken against the income of the business to lower your taxable business income.     

Our estimated cash flow is $165k/year for our 42 units after all expenses including 5% vacancy and $1,100/unit set aside for repairs, maintenance and capex in addition to everything else.

I'm looking at what are basically turnkey properties that need some light maintenance and/or updating if anything at all.

The first SFR had 27K+ worth of differed maintenance(Thumbs down) and I was purchasing the property for around 35K.