The question is - with a steady supply of inexpensive homes that are built-to-suit, will there be a long term demand for renters?

Any odd increases/decreases in expenses?

If the teardown wont damage the property, this should be an inexpensive and quick fix

Account Closed I've just started as well, and I'd recommend books, podcasts, etc as inexpensive knowledge.

The Deal (Numbers): 3 unit propertyAsk: $315,000Purchase Price: $293,000Down Payment: $73,250All in cost: $83,250Gross rents currently: $3,475/moInsurance: $204/moUtilities: 60/mo (We only cover water, tenants are paying all other utilities) PM: 8% (paying ourselves, but included in expense costs)Repairs: 5%Capex: 8%Vacancy: 5%NOI: $23,040Cash Flow: $637.60Cash on Cash: 9.19%The Future: Really excited for what is to come. 

In expensive markets, most multis will not meet this test with a low down payment, thats why you were asked to increase your down payment.

Below is my cash flow analysis for the property after repair: $600*12 months = $7200 in gross rentLess $600 for one-month vacancy each-> $6,600 Gross operating IncomeLess 25% in expenses (maintenance, CapEx, property management, HOA fee)Less property tax $350 (1% of purchase price)Less insurance $220-> $4,380 Net Operating Income I look forward to your input on the analysis.

You hold on to quality tools.A good high quality tool will perform a job much easier/better than a inexpensive dull tool.

Does anyone have any recommendations for resources specific to getting started in expense markets?

I can see why turnkeys are an attractive product for people living and working in expensive markets who have lucrative careers that keep them busy outside of real estate.