This is my first time working for the industry.He refinanced two properties, in one he received cash back in the other one he had to put money in.A normal buying GL entry will be: Debit Credit increase Fixed Asset Land GL NENE unit 110 14,000.00 increase Fixed Asset Buildings GL NENE unit 110 139,378.30 increase Long Term Liability Mortgage/ Loan payable GL NENE unit 110 100,000.00 increase Operating Expenses Association Fees GL HOA fees/assessments (NENE unit 110 49,900.00 decrease Current Asset Bank account GL Bank account (cash to close) (NENE unit 110) 3,478.30 153,378.30 153,378.30 But I do not have any idea what GL to use when a property is refinanced.I have to add that for these two properties there are several invoices open in our system for the monthly loan payments missed before the refinancing of each property...what I do with those?

The seller said his HoA is careful about who they sell too so I will likely be screened or something of that nature.

Looking forfeedback on which one(s) (looking to sell 1-3) would you sell minthe next 90-180 days )# 1When Purchased /Cost 1996 / $67KLocation : Fayettevill NCType : 2/1 SF house (1400SF) Value ~ $85 KDebt: $0Equity 85 K Rent 650DebtPayment 0 Other expenses PM, Taxes Insurance $250 Cash Flow (monthly) ~ 400 Pros Paid offCons: 23 yearsdepreciation already taken no appreciation inmarket ( military town) tenant on leaseuntil May 2021 - so cant sell to owner occupant limits no rent growth last6+ years # 2When Purchased /Cost July 2002 $74,000Location : Rosepine LA Type : 3/2 SF house Value~129,000Debt 0 Equity 129000 Rent750DebtPayment 0Other expenses PMtaxes Insurance $175 Cash Flow (monthly) 575 Pros recently updatedafter last tenant (1/2019) low taxes ~ 800year Cons: Hurricane damage toroof Sep 2020 current insurance claim on Tenant evacuated andnever returned – currently vacant town hasn't show alot of growth last 10 years #3When Purchased /Cost 2004 - 174000 Location : ColoradoSrpings, CO Type : 3/2 SF House Value $290KDebt ~$95K Equity ~$195 K Rent1100DebtPayment 730 Other expenses PMMaintenance – 85 Cash Flow (monthly) ~175Pros ~ 7K recent CAPEX (siding / Windows , New exterior paint ) plus $8K new rook (insurance claim) long term tenant (+6 years) Good market forappreciation Cons: Under market rent (Rentometer and BP Property insights says 1350 is market rent ) Lots of equity –not much cash flow #4When Purchased /Cost 2010 / $129000Location : AugustaGAType : 4/3 SFR Value: $176K Debt ~$92K Equity $84K Rent $1075 DebtPayment $850 Other expenses PMMaintenance) $175 Cash Flow (monthly) ~60Pros tenant gave notice (moving out 11/29/2020 )Solid rental historyCons: Lots of repairs lasttwo years# 5 When Purchased / Jan 2013 Cost 198,000 Location : OlympiaWAType : 3/ 2-.5 TownhouseValue$357,000Debt $150KEquity $207KRent1875 DebtPayment $1275 Other expenses HOA/ PM - $ 225Cash Flow (monthly) $375 Pros Solid rental –great school district Left in 208 - stillunder 2/5 rule if sell Cons: My long terms goals is Passive income  - whether  SF or MF -  and looks like MF  can bring in more Cash flow for my current equity  Thank you for any feedback

Unless you have a signed contract with a scope of work, and even then, the estimate may be coming in low, a common strategy to get a client, underestimating the rehab (oh its labor only, doesn’t include this or that, demo and hauling not included, and or he’s not licensed which can be a problem on a quick flip.)I suggest really thinking through for the worst case scenario, that the condo doesn’t appraise for what you expect, the rehab is higher than you budgeted, you may struggle to find a tenant (days on market for condo rentals is high right now, lots of price drops).As a buy and hold, you really need to look at the HOA and how that affects your cash flow and return on investment.

Then add ALL costs related to holding the property (utility costs, property insurance premiums, property taxes, loan payments, HOA Fees, etc.).Concessions: Concessions are what you give back to the buyer at closing.

., CapEx, PM, taxes, HOA, etc..).

I'm trying to find apartments/ condos that I can get a CoC Return of around 7% per month but I'm struggling with the high HOA fees. 

If I’m not mistaken, aren’t there HOA fees associated with condo ownership?

If you own the land you can build one home at a time and sell it, or you can make all the homes on the golf course an HOA.

Would the HOA be able to have the owner evict the bad neighbor?