I make sure I screen each potential tenant thoroughly (background and credit checks) and require references.

Does it require a highway occupancy permit if its on a state road, in my area it cost me around $1000 just to get the permitting and design for my driveway entrance.

Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).

He is 69 and does not want to reinvest (1031 exchange), which leaves me having to make a much larger investment on my own to meet the 1031 requirements which is more than I’m willing to do at this time.

Now more than ever, I am seeing offers required to be submitted through a portal where the listing agents want no business being involved with up front negotiations.

And THEN, the same $1 fee is required when doing a transfer to pay me their utility bills, so then I discounted those by $1 too.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $400,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $410,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

Please, no solicitations.Use the renovation/acquisition loan products that require 10% down on the purchase and you should be able to get a few going at a time.

Reason is a Heloc generally carries a higher rate on a shorter term and "Can Never" be used as an "Asset, or for PITI reserves" which are both required when you buy an investment property.