Thank you, its 3100 sq. ft. 2 1/2 bathrooms, 4 bedrooms, id rather not put price i do not want this to seem as a solicitation, im new in this community, thank you for the compliments, i put some real effort into this one.Jenkins RamonThank you, and i am leaving the basement as is.

I'm currently still working the bathroom, then the kitchen, then landscape and update doors and trim around the house.

We are getting through all of the paper work right now but within the next week we should have our LLC formed and funded.Now that we can finally focus on finding properties and not the structure of the company it is starting to feel a bit like we are forgetting something.Our team includes:Acquisition:I am a realtor so I have access to the local mls; my partner and I can narrow it down to a few properties of choice.

I do understand the term "AS-IS" but HUD represented that they were selling a house, not a lot with a tear down structure.

The difference between 2 bathrooms and fewer than 2 bathrooms is immense, as if the difference between 3 bedrooms and fewer than 3 bedrooms.Based on that, the first two comps are useless and the third is nearly useless...unfortunately.Secondary to that, the comps are too old, as others have said.

For $1300 a month you can get half of a 2 bedroom apartment, ie you can share it with roommates. 1300 alone won't get you a studio, you have to leave the city to get something that cheap.Jameson,Do you have to share the bathroom with your roommates?

.)- When the bathroom sink broke this week the PM acted like we were the worst people in the world for wanting to get the sink fixed.

LOLWork on your first one and get that down pat.Yes over time you can minimize costs and pump up the profit numbers each year over the 50% guideline.When you go to sell the new buyer will be looking at a lot of deferred issues resulting in a lower price.The bathrooms and kitchens and mechanicals will need replacing at various times.I see this all the time where apartment owners show healthy returns over the years but when I look at it I can see huge costs in needed repairs going in.These repairs if you tell yourself are not a big deal will take away every ounce of future cash flow for years from your projections.

I've narrowed down the neighborhoods/unit types I'm looking at, and this is a theoretical but likely scenario: Property: 2 bedroom, 2 bathroom condo in multi-unit building.

However, if you are hiring a financing consultant to structure and/or package your deal, then fees are ok.