That would eat up $15,040 of your profit.

I like having my eggs in different baskets so maybe that's not the way to go :)The assessment says it is a 5 unit, it's classified as a commercial apartment.Yes, I am hoping the 5 unit finance and insurance issues will scare others away.

Check caulking joints inside the unit everywhere and seal up.Do not eat on carpet as not vaccuming right away breeds bugs.

Other than that, his atty was fully aware my evidence eats his evidence alive!

Even if you could save it all every year it would only take one tenant moving out and leaving the place trashed to eat all of that up.

You are mortgaging your future to the point that you may welcome criminal action so you will at least have something to eat and a place to sleep.

The ones that do lend on commercial or mixed use are way more conservative on LTV's and down payment requirements.Even if you could structure such an arrangement your high debt service would eat you up without any income coming in.

Condos typically have HOA fees that eat up your cash flow.

Those kinds of problems can eat away at profits very quickly.Good luck!

Fulton county still has crazy assessment of 2,000 to 3,000 a year in taxes so the taxes alone eat up almost any cash flow.I remember Detroit have really high taxes on those houses that were low priced.