I'm pleased with this acquisition and happy to share the numbers if it will help others like me who spent too long thinking about it before taking action.Purchase Price: $125k // Appraisal: $131,000 // All in after rehab: $137kFinanced: 75% ($93,750 @ 5%) // Monthly PITI: $697Mgmt Fee, Landscaping, Garbage: $272 monthlyReserves, Maintenance, Vacancy, etc.: $250 monthlyIncome: Rehabbed side - $925; unrehabbed side - $790Positive Monthly Cashflow: $496My wife and I have been residential realtors for many years and after a positive out of state experience, we were interested in buying a 2-4 unit property where we could add cosmetic value.

Hello,I was wondering at what price point (for a spec house) do you think it is required/recommended to do recessed lighting in bedrooms?

I am not in a position to tell others how to run their business, only to tell them how I would answer their specific questions in light of my business models.

I was wondering if anyone can shed some light on the process ?

I'm from Wilmington and there are about a million landscaping jobs that you can pick up and make your same hourly rate with no experience. 

So cap rate purchase is generally low and you are hoping for increased rent growth to further yields unless you built the complex from the ground up to own then you might have a 10 cap rate to cost versus buying in the market for a 6 for class A apartments  with little operating expenses.Watch out for (newly renovated) properties where some syndicators and sponsors do rehabs on the cheap but the expensive items are fixing to go out after you own it reducing yields heavily in future years.Newly renovated to these sellers might mean carpet,paint, some lighting fixtures.

Make sure you clarify what will happen if they don't fulfill this duty.Here is an example from our rental agreement:1.LANDSCAPING/YARD CARE.Regular landscaping/yard care (mowing, edging, trimming, fertilizer, weed control) will be provided by _______________________.For all Tenants:a.Tenant agrees to keep yards, walkways, patios and decks clear and to keep premises free of junk and debris.b.Tenant accepts liability for all landscape damage and/or replacement of such, if caused by neglect, abuse or lack of water.c.Tenant may plant the beds adjacent to their dwelling to their liking, but only with those plants that are of appropriate size and type for the beds.All plants brought or caused to be brought to the property by Tenant will be cared for by Tenant.d.Tenant agrees not to cut or prune trees, hedges and shrubs.This will be Landlord’s responsibility.e.Tenant agrees to properly dispose of all plant debris and agrees to not leave such on the property.f.Landlord will consider special Tenant requests for planting and removal of plants, shrubbery and trees, but reserves the right to determine the make-up of the landscaping.For Tenants of single family homes only: a.Tenant agrees to mow, water, and keep the grass, lawn, flowers and shrubbery thereon in good order and condition, applying fertilizers and weed retardant as needed. b.If there is a failure of Tenant to keep the landscaping in good order and to follow these guidelines, Landlord reserves the right to hire a landscaping service at Tenant’s expense (after a 10-day notice to perform covenant).c.Landlord reserves the right to restore the landscaping to its initial condition, as it was at the time Tenant began occupancy, or if improved during Tenant’s occupancy, to the level of such improvement.

That would be traveling pretty light.

HOA covers hazard insurance, landscaping, etc.  

Think about how each property will photograph and how best to present its desirable features.If it photographs extremely well (Hire a professional with great lighting, and have it photographed at day time and at night time), has desirable features and you promote it those 3 ways, you should have a strong occupancy rate through the year.