What are the economic factors?

Hello Natalie and Welcome,I too live in Charlotte and have recently decided to pursue a passion I've had forever in realestate.

I think when purchasing multifamily there are many important factors: population growth, job growth, landlord or tenant friendly city or state, vacancy trends, rent growth trends, etc.  

There are many factors that play on an individual's success, the one constant factor that is always present is education and not the crap gurus dish out but formal training.

There is also no factors for vacancy or repairs but from just a simple gross figure your about $200 per month. 

But Yes it is definitely more active then its been in forever. 

Financing will also be a huge determining factor in the overall success of your investment.If you can just provide slightly more background on what exactly it is you aim to accomplish and what you have to work with, I can give you a little better idea of how that coincides with the market out here and show you how the financials are likely to break down, given your particular circumstances.  

Talk to some local property managers and factor in the turnover and vacancy rate.

What other factors should I be considering.  

Manager lives on-site.Ok, those are the things that are positive about the home and community.Now for the things I feel would need to be added/completed/renovated before ready for sale or rent:New gutters - ~$800Laminate flooring in kitchen and bathrooms to match entire house - estimated $500Stove/Oven - ~$600Fridge - $700W/D (optional) - $600Window in master bedroom - $200Ceiling fan in master bedroom - $200Kitchen sink - $200Redo all door trim/paint all doors/rehang, replace or adjust a few doors - ~$500 (just a guess)Add small door to water heater closet ~$100New master bathtub - ~$8003-4 panels of skirting need to be replaced - $ (no idea) but estimating $200Ramp/Stairs/Deck leading to front door needs to be replaced - $1000Landscaping in front - $200Cleaning entire home to make ready for sale - $200I'd like to get a foundation specialist to look under the home (free)Roofing specialist to talk to me about the metal roof (free)I need to ask her about the furnace (forced air) and its age and working condition.I need to factor in about three months of lot rent (at $375 per month) for the renovations to be completed - $1125And I'd like to have $1000 set aside for unexpected rehab expensesGRAND TOTAL = $8925This would mean that our negotiations to the seller would start at $11,075.First, are these figures anywhere close to realistic?