While I have some cash for this, I was going to get a line of credit as a quick source of funding for emergencies, or if  the rehab costs are more than I can pay cash for. 

I knew it was what we needed to do and bought it anyways, even used the emergency fund as our down money.  

For a bit of context, we are lucky to both have stable high paying jobs so we are able to save enough from our W2s for a new multi family (down payment and renovations) each year without touching the real estate income (which is not too much at the moment but it all sits in a bank account for emergency real estate maintenance issues and deferred maintenance) Thanks!

Get a great cleaning team and they should be able to help you with these things.You can hide a 2nd lockbox for emergencies.

I agree those types of returns are unheard of in the US, but having personally spent a lot of time in the Middle East and other emerging markets, they’re not necessarily as astronomical as they might sound.

I was looking at opportunities in detroit a couple years back but I had some family emergencies I had to deal with that caused me to go m.i.a. for the passed two years.

This separate property management company provides at least- HVAC inspections, extermination, (both of those help since the condo will be entered at least once every other month), emergency lock out help, on call support for situations like frozen pipes, security concerns, building wide relevant alerting system, etc.

I am hoping this becomes an emerging market and I would be able to sell it for a decent payday later on.

In these emerging neighborhoods are lots of antiquated houses and going up around these houses are new construction, rehabs, and high rise condos. 

Hello All,I have been having a very long struggle with the NY ERAP (emergency rental assistance program) and was hoping someone had some experience in successfully dealing with the program.