When you see an opportunity, and fear begins to creep into your thoughts, tell yourself that you don't have the property now so if they do the worst thing they can do and throw you out, you've lost nothing but an opportunity to possibly help someone else in need of your assistance.

BP is a great place to learn and get assistance.

I'd love to hear more about how to save for a downpayment, what sort of personal savings buffer to have, and what sort of reserves I should have for emergency repairs.

I know the benefits are home warranty and no cap x or repairs expense needed in the beginning.

Asking Price: $575kIncome:Gross Rent: $8000 (fully occupied)Laundry Income: $175P&I: $3225.53Vacancy: $817.50 (10%)CapEx: $408.75 (5%)Repairs: $817.50 (10%)Management: $800 (10%)Taxes: $416.67Garbage: $90Water/Sewer: $80Insurance: $672 (Replacement cost valued at about 900k)Misc: $355 (Pest Control/Lawn)This obviously doesn't make sense at asking, 6.6% ROI, ~$500 cashflow.

In order to do a major repair to the sewer line and electrical panels, I decided to end leases to all tenants in 30 days.

His response was "I can do 80% LTV with purchase price and repairs compared to LTV."

It’s repairs and getting a tenant that will be hard.  

It is going for 109,000 I want to try and get it for 90,000.Monthly gross rent-$1650Expenses Tax-264 a monthWater- 100 per month estimatedHeats-100 per month estimated insurance-100 per month estimatedvacancy-115.50 (7%)Capex 82.50 (5%)Repairs 148.50 (9%)Management 165 (10%) P&I 386.51Garbage 50 per month estimatedTotal 1,511.68 Monthly Cash flor 138.32COC- 6.64% Pro Forma cap rate-4.84%purchase cap rate- 7%2% rule 1.70I don't know if the seller would accept 90,000 but its a smaller place needing updating and has been on the market for about 130 days.

i want to end up in multi family homes in the long run, but i have no money down, no money for vacancy,repairs,rehab, etc.. my idea was to start with a single family home(easier) with good equity, live in it. but fix it up a little & house hack to pay my mortgage. then a year or two down the road pull out the equity or even sell and purchase a multi family home that way ill have more money to back me up. how does that sound as a first investment?