This tends to be a bit conservative, but I'd prefer to be prepared for when vacancies do occur.I also estimate on average about 5% for CAPEX, 10% for repairs and maintenance, and 10% for property management.

Most parks I evaluate are on welland septic and I actually prefer they are on well and septic because you can charge the park tenants more essentially because you are providing water and sewer.

Personally I prefer to have someone look out for my best interests.

The Best Questions to ask Syndicators of Apartment DealsSeven Reasons I Prefer Investing in Apartment Deals

I buy with a buyers agent and use their preferred title company.

I know that there is a website that lists 203k contractors but I prefer to use recommended contractors and have them complete work on a 3 flat.

I know that there is a website that lists 203k contractors but I prefer to use recommended contractors and have them complete work on a 3 flat.

If you don't have money I suggest learn all you can and do the hard work to figure out your market niches so that when you find a partner for your joint venture, all they have to do is provide the money.Hope this helps!

I prefer crimping rather than sharkbite for a number of reasons. 

Which leads to my second point: here is a recipe for crashing and burning that everyone should be familiar with because it happened repeatedly in '08-'10. 1) Buy houses with 15% down in neighborhoods that have a lot of competition for rentals and would face downward pressure on rents in a bad economy; 2) hire property managers for about 10% of the take because the houses are more than you can handle personally, 3) make sure the cash flow is below $400 a month, and preferably right around $0; 4) have few assets in the bank or liquid; 5) wait for an economic crisis.Point being, you can be on too fast a track such that when the music stops, you have no place to sit.