Welcome, and what a great way to find a niche utilizing your experience.

Lots to learn and as an agent you can see the thinking that might go on in the minds of investors, investors can provide you a great customer base as an agent.

Gas and electric utilities are split; water is not.

Building is roughly 6000 sq ft, 3 story with a commercial unit on the main level and 4 apartments.Current rents:Commercial space - $500Apartments - $300/ea (Tenants pay all utilities)Light on top of building that banks rents $126Total: $1826 per monthPurchase price - $92k (land contract)Down Payment - $10k5.5% interest on 20 yr mortgage with 3 year ballonMortgage payment: $564Taxes - 3300 annuallyInsurance - 300/monthA few things to note:- Rents need to be raised.

They tell the customers what their top dollar is for the item in question because they as a business HAVE to make a profit on it.

Yes this is nothing new to the big boys & girls out there, but new to me as I have only purchase new completed places.This is the current bus. model that worked on my building1-build/buy new & hold(unique duplex like SFR - thus hi quality tenants)2-cash flow-not great but good3-exit by selling as condos (30% higher value than the whole duplex structure)These are the rough number on one current duplex:-150K 0.4 acres land purchase for ONE duplex (an average - extremely hard to find)-300K Build and contractors fee-20K City utilities (can save here w/ tear down-Utililitie in place & easy to permit)-Appraised at 470KWith these numbers there is no deal/money to be made upfront unless the appraisal rises or the land price drops.

One of my customers, who has been buying rentals since 1990, says that he tears the guts out of every toilet he installs (even the new ones) and has NEVER gotten a call about a leaky toilet.

Forgot to mention - I would pay cash for the property and I have factored in 10% annual maintenance/repair, 5% self managing cost; $1393.00/year property taxes, insurance, utilities, and 10% vacancy/bad debt/collections into my spreadsheet.

Remember there is a thin line between a kitchen and a utility room.

I'm talking about property that had no chance to cash flow at $50k - 1950s built gang infested, falling apart where owner pays all utilities.