I have another Broker checking some out of state rentals that I may want to purchase.Oh yes, my father's house, in which I am currently living, has 1950s electrical switches and plugs, 1960s windows, 1970s carpet and 1980s window coverings.

However, out-of-country seller (no debt) paid $300/month to a property manager, $100/month taxes, $205/year insurance, $350/month water, $120 month for electric/heat (laundry shed), $35/month trash (dumpster shared with 2 other MFHs), $105/month mowing, $20/month pest spraying, $50/month for cleaning of laundry room, in addition to any maintenance required.

Turns out the roof was hit. $2,400 to replace.

The guy just hit the jackpot.

Well I'm going to hit the pavement running.

New tile on the floor doesn't mean squat".Mechanicals,roofs,plumbing,electrical etc. that is where the real cost is at.Is the property sub-metered for water??

I'm not a techie so I can't link stuff, no idea, I just type and hit return.Dion has a recent post about the due on sale clause and he posted the reg.

They have sheet metal, electrical, and plumbing experience.

If owner occupied rates hit 15% again, like they were when I first considered buying back in the 80s, you can bet these loans will get called.

The next one says not to count on becoming financially free from real estate because its like hitting the lottery.