Also, when it comes to an exit strategy, small multifamily properties are generally bought and sold between investors instead of an average Joe looking to buy a house who is more willing to buy that property for it's emotional appeal rather than how good of a cash flow they can receive from it.

Quote from @Joe Yobaccio: @Joel Owens, what type of mail are you sending to small apartment owners? 

@Joe Davalos I appreciate it.

I don't think we could of had the work done for less than $4000 in labor plus the cost of paint.

@Joe G. - this is a preference type of question, so I'm sure you'll get a few answers that diverge a bit.I agree with @Ron Flatt, but my main reason for not installing washer / dryers is that it is one more CapEx item that can / will break.

@Joe FreyIf you are redividing the property into two units, why not simply put separate electrical and, if present, gas entrances into the second unit?  

I would not suggest just using a random %.Let me know if you have any questions.Regards,Joe Scorese

My husband is a contractor, so he's up to date on the EPA regs, and when he works with a client who falls under the lead laws, it about doubles the labor charges.Not legal advice, just a suggestion. :)

If you haven't already, I recommend reading:1) ABCs of Real Estate Investing by Ken McElroy2) Wheelbarrow Profits by Jake Stenziano & Gino Barbaro3) Multi-Family Millions by David Lindhal4) The Complete Guide to Buying and Selling Apartment Buildings by Steve BergesAlso Jake and Gino, Michael Blank, and Joe Fairless have great podcasts on apartment investing.Best of luck on your journey!

Hi Antonio, I've had luck closing with Joe Giordano at Giordano, Delcollo, Werbe, & Gagne.