Glad to hear that things worked for you in the end here, and I, for one, appreciate your willingness to come in here and make that first post - I think a lot of people could empathize with that kind of ¨oh crap¨ moment, but most would not be willing to share it. 

maybe he doesnt need the help if he is charging that kinda crap!

It sucks when you see an old building like that in what looks like retail next door and it's just turned into apartments.And Also holy crap, I wish a building like that was $25k around me. 

without the up-front work, knowing to bid or not on that gem is like a crap shoot.

Updating projects include:2 x new kitchens2 new sets of appliances including plumbing for dishwashers (didn't have dishwashers)Building out washer/dryer laundry rooms off the kitchen, so tenants will have separate systemsAll basement windows will be replaced with glass block that can open (for venting)I'm tearing out all the gross drywall and crap in basement and starting freshUpdating bathroomsInstalling Glass Block in the bathroom windowsFixing a few windowsPaint the whole damn thing inside and outRipping off (and capping) the unused crumbling chimneyWater managementGutters installed with drain pipes so I get the water away from the perimeterRipping out the carpet and refinishing the original hardwood - everywhere (if it's salvable)I am rebuilding a stairway making it saferA few other projectsTotal price after all Rehab/Fees is approximately $210,000I don't know what my rentals will be, I am going to begin marketing it @ $1,500.00/unit I believe I will be able to lease there, or at the lowest $1,300.00/unit (as is market values on craigslist and other sources)The neighborhood is considered the good part of the rough area, lower owner-occupant, lot's of section 8 in surrounding areas.  

It’s impossible to predict the next real estate crash; just like stock market, those who say they can, are 100% full of crap. 

Stress tested the crap out of it :)

I've run the gamut on loans' credit scores/interest rates/ratings that failed (although I never went with A stuff) and it's all a crap shoot, so I try to get the most investment return possible while I can to cover defaults.No inquiries and no recent defaults/public records.That's the gist.

A pass line bet on the craps table has a better payout than that. 

None of my offers are "low-ball" in that there is a reason that I've offered what I offer, not just flinging crap and seeing what sticks to the wall.