@Chris Seveney I'm concerned about having $$$ for repairs when needed.

Since the repairs were two owners ago, I would think the town may be a little more lenient with you.With the new kitchen and bathroom, were they existing and just got renovated or were they added on?

Class D Property:This is where we find many older properties of more than 30 to 40 years old, in need of major repairs.

Send her a certified letter (keep a copy for yourself) with your concerns of her not turning on the heat and the problems that can occur with frozen pipes and repair cost in which she will be liable for if she doesn't comply.Is she using space heaters instead?

Lowering your standards invites expensive evictions and repairs. 

Hey @Brad Roche - We do a significant amount of renovation loans (both Fannie May & FHA) here in Chicago and prefer the Homestyle loan only because it's less stringent on the borrow about what they have to repair, and they provide the general contractor a material draw at closing which helps the project start on the right foot.I thought the minimum down payment was 5%.

Hey,I was asked what a typical Gator Method deal looks like recently.Each Gator deal I do is different in some way, but here’s how a recent one played out.It was with someone who’d already found a property AND they’d got a buyer for it.I didn’t have to do ANY of that work.All they needed was the earnest money for the deal which is why they reached out to me.We talked on the phone and agreed on my rate for the investment.I then sent him the paperwork and wired the money.Simple.And the result?

I have extensive experience there doing about 500 deals , thousands of repairs/ renovations and move in and outsAll the best 

Some numbers:Expected 2026 income after raising rents to market value and assuming 7% vacancy: $144k.Expenses: $14k property management, $18k property tax, $10k insurance, $10k utilities, $8k in repairs/maintenance/advertising/admin/etc: Total operating expenses: $60kNOI: $84kBased on 6% cap rate that brings the valuation to only $1.4m, or $1.5m based on 5.5% cap rate.

Repair costs in first 1 month of owning (this is renovated house done by seller, not me.