You may start out managing but if you don't continue then you will not have budgeted for future PM.First you said, "15% Repair & Cap EX COMBINED" then you said "Repairs are being budgeted at $150 a month" so I was unsure of what percentage you ended up doing.I did 10% vacancy, 5% cap ex (which is low), 18% R&M because your last statement was budgeting $150 per month.Our calculations may differ as I take the vacancy from the Gross Rent to achieve my effective potential (some may call it something else) and then begin deducting things like Taxes, Ins, PM fees, utilities (IF they apply).Since you didn't put taxes nor insurance I put $1000 for each.

I have a motivated seller looking to sell by end of week.

On that note, I would like you to take the time to consider this letter, though also realize one thing -- YOU have to be the most motivated one in this transaction or it'll most likely not work out for any of us.

“Home sales activity throughout the Buckeye State is extremely strong, as our sales totals in May reached the highest level for any month since December 2006 and achieved the best mark for May since 2005,” said OAR President Greg Hrabcak.

Hopefully you find the motivation here.

It just completely motivated me to keep going!

Find their motivation for selling (they're very frustrated at this point), and then use that in your offer/negotiations as well.

The seller must be motivated, by something, and the buyer must have a desire to purchase.

Beyond excited and motivated to get started on our new journey and look forward to hearing from all of you and the wealth of knowledge that you have.  

ThanksI'm interested in abandoned houses because I figured the owners of those houses would be the most motivated to sell.have drove around wrote down some addresses of properties that looked vacant.