Net income = $39,240Monthly operating expenses are as follows: Trash - $33, Landscaping/yard - $66, Electric - tenants pay, Water - $95, Maintenance $87Monthly taxes about 3KSo, gross expenses are at $41,064If I'm doing the calculations correctly, my net operating income is -$21,888 and cap rate is -3.4%.Obviously the current numbers look terrible for this investment, but I feel like the rent should be raised significantly based on comps (above 2K each unit). 

*This link comes directly from our calculators, based on information input by the member who posted.

I have discussed this with my contractor and he says that to go over it with vinyl is the best thing (the sellers have just painted it but it is crumbling in several areas) and that he has to wear a full respirator setup like he would for lead based paint abatement or other hazardous materials but just screwing into it doesn’t disturb it so much that it is too much of a problem.

We're based in Florida.

I’m a new investor based in Chicago, but willing to relocate to nearly any city in the Midwest.

@Michael Evans Hi Mike my name is Nathan I'm a Director for New Western and based in Southern California. 

Its a 3 unit row-house built 1900, pretty good condition, newer roof and water heaters, not sure of other stuff.

No offers in this market is typically based either on price or practicality.

“To keep up with annual demand, the US needs 1.86M new homes (for-sale and for-rent) per year through 2033, based on underlying demographics and current undersupply.

You are bidding in the blind based on what you can see from the outside of the house, and (if vacant) what you can see sticking you nose up against a window (usually).