Demand will be strong at this price point as the competition will be significantly inferior quality.24 unit complex (4 buildings x 6 - 1br units) built c.1978 - end of life interior but exterior structure / mechanicals appears sound.NOI forecast at 83k.Renovation budget at $375k inc contingencyPurchase price of $250kOur Bank will go to $565k @ c.4.25% for 5 years with 25 year amortization - they hold the note for the existing owner and know he is slipping into the default zone.

Both of my parents graduated from RIT and I lived in Rochester for the first 18 years of my life.

While I invest in multi families I have developed a certain style of 2 family or even mother daughter single family that I find works really well...I Strongly prefer the 2 family that has a bigger apt on first fl.

No financial damage for me.Secondly they are kind of endangering the property and life.

I can't expect others to have been through the path in life to be at some point where note investing is a natural progression.Reminds me of the game "Pick up sticks" where you dump sticks on a table and then attempt to pick them up without moving any other stick.

She'll be talking some real-life "House Buying Horrors" in time for Halloween.

Life is too short to do something because you "owe it to someone," except in the case where you really do owe it to someone because they went out of their way to make an *extra* effort for you.

If you have other things in your life that require lots of time, it might make sense to allow this to occur.

The inspectors down here make your life miserable, when they walk through your door they look for anything they can get you on regardless of what they came for.

Actually, it would still be a comp if similar in size and bedrooms and baths and style.