Generally not optimal for maximum ROI but for offsetting second home costs. 

The duplexes in the area of Long Island I'm looking at cost around $700-800k.

How did you pay for the down payment, holding costs, and repay the contractor?

Late fee is considered reasonable if it is not more than 12% of the rent for the rental period under the lease for a dwelling located in a structure that contains not more than four dwelling units or 10% of the amount of rent for the rental period under the lease for a dwelling located in a structure that contains more than four dwelling units or the late fee is more than the applicable amount but not more than uncertain damages to the landlord related to the late payment of rent, including direct or indirect expenses, direct or indirect costs, or overhead associated with the collection of late payment.A late fee may include an initial fee and a daily fee for each day any portion of the tenant's rent continues to remain unpaid, and the combined fees are considered a single late fee.

Breaking the lease without the legal justification may subject the tenant to payment of the remaining rental fees, damages and cleaning fee and other costs indicated in the lease agreement.

Dan Powers - New Western

Bring a dumpster and take out all your trash to save on your demo costs.

Hello Everyone, My Sister Just got married and with high interest rates, and high cost of homes in Utah, it’s going to be really hard for her and her family to afford buying a home.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Hi Griffin, It is not uncommon for hard money lenders to finance 90% of the purchase price and 100% of the rehab cost on a 6-12 month term, and then they'd be able to assist with long-term funding for the property once it has been rented.