Also winter weather is a great delay - ALL evictions are stayed Dec 18 - Jan 2, plus any day under 15 degrees, plus any day with inclement weather: https://www.cookcountysheriff.org/wp-content/uploads/2019/11/GO2019-01.pdf That alone racks up the sheriff backlog further.Sometimes if a tenant doesn't know anything, we can convince them to agree to move out in 30 days and the judge will then enter the order with a 30 day stay on that first court date.

I played Division 1 Baseball at Ohio University - those were great times that taught me a lot, made me a bunch of connections, friendships... and even ended up with a degree in Geology.

Therefore, the oven can only be set at 350 degrees or less and the tenant cannot bake anything at more than 350 degrees. 

Fannie Mae is the Federal National Mortgage Association and is solely for purchasing FHA and VA insured loans from primary markets.

@AP Horvath cap rate is going to have quite a degree of variance depending on multiple factors, 3 primary variables being:Asset class type (A, B, C, D)Property condition (turnkey vs value add)Location (especially with property taxes here)Again, it varies on the factors above and if you are calculating your cap rate via purchase price model or projected price model.  

Hi @Ryan Fisher, I'd be curious how closing costs on a $460k property are $3,000, and how there are $0 in repair costs on a 4-plex (with what I'm guessing are varying degrees of tenant quality).The seller likely views it as "great cash-on-cash return" because they bought it in 2011 for $175,000: When they say "great cash-on-cash return", they're probably referring to their own ROI, i.e. how much they're earning compared to how much they invested back in 2011.  

There's a relatively untested way to absorb some but I emphasize it's untested which a long way from either approved or disallowed.The theory is that if the improvements are less than 10% of the value of the property you are buying and the improvements are things that would normally be associated with a structure (roof, A/C, flooring etc not furniture or a car in the garage). 

@Jay Orlauski So i spoke to better blackstone association and they will contact me back about the incentives for that area or if they do it for pinedale.i imagine they could but ima wait and see what they say.

It's nice to say where you are and I do not know about the local association is like, but Dallas's is mostly about sales and not truthfulness. 

If you want to know your max purchase price formula it's: ARV x .7 - Cost of Rehab = Max OfferBut the overly dramatic example I gave (sorry... but it can turn real quickly) is why you have to know that cost of rehab with some degree of certainty, or else simply asking what percentage of 65k would make it a great deal is irrelevant.