You see so many brokers saying they are getting 90% for NPN's or selling performers at a 5% yield and maybe they are (or maybe they are blowing smoke where the sun does not shine), but this data gives some insight for what is trading on the secondary market between investors which is performers around 12% and NPN's at 55% +/-.

Mastering little crap like hanging blinds, ceiling /exhaust fans, light fixtures, switches and receptacles, closet doors, doors, screens, screen doors, patio doors, lockset changing and unsticking, smoke alarms, appliances, paint, trim, wall repair, cleaning, etc are the most common needs. 

Also, I forgot to mention that the other tenant notified us that our non-renewal tenant has been smoking in her unit which is something I don’t want going on any longer than necessary.

It is really hard to give any real answer but if you want someone to throw a dart that doesn't hold any weight....If you have 2700SF total = 3*900SF, then maybe you'll be able to finish it for roughly $40/SF which puts you at $108k.That's a complete stab in the dark but sounds like that is what you were looking for. 

Hi Greg,Maybe the units locality is more likely to draw this type of renter.The working poor, if they need to get a car repaired, or pay a traffic ticket, or fix it ticket (bald retreads, smoke from the tail pipe, etc...), can easily fall behind.Sometimes renters are just irresponsible, like having a keg party with the money to pay the electric bill and then sitting in the dark for two weeks.Good Luck!

I love the applicants that say they don't smoke or have pets and then find a picture of them on FB in bed with their dog while smoking a cigar.

We are finding that the deals that may be comparable to rental #5 are attainable however like anything it takes some real boots on the ground to locate them.We had some fortuitous timing on the purchase of Rental #6 - however we do believe that at the top of market (at least here in central Iowa that property we do believe is the top where we'd want to invest and should do a great job of holding its value/appreciating over time) - there are opportunities to find the house that needs new carpets, a kitchen remodel, and a smoke smell removed in the nice neighborhood. 

Just a week ago a tenant called me saying the dryer was smoking so we had someone out to look at it.

I am able to leverage what I know to get myself into smoking hot deals and can afford to do things like you mention and beyond that, set up my tenants on the path to ownership if they'd like to and complete financial stability.

Sometimes you can share a house with swimming pool if you don't smoke, have pets, wife, kids etc.