Welcome to BP community @James Triano It is a great place to meet new friends and learn about various aspects of real estate and more.

It is a great place to meet new friends and learn about various aspects of real estate and more.

What sort of shape is the building in- does it need a roof, HVAC, etc or are you just upgrading the interiors?

I have a tendency to think of questions after the conversation is over or days after (like how old is the roof?).  

The roof and HVAC alone were about $20,000 of the amount we went over budget.  

But there aren't a ton of fourplexes/triplexes getting added to the market currently so the pickings are slim.I've found this duplex which needs a little roof work, and overall I wouldn't want to live in the area which it's located due to the distance of my daily commute.

I also have financed a roof for my rental house for 5.99% interest on my Lowes Card.  

The roof, furnace, and most of the windows have been updated in the last 5 years.  

I'll want to see the following items:TaxesSewer and WaterTrashHeat/UtilitiesHOACap Ex and Ops (my personal minimum is $150/roof/month)InsuranceMgmt Fee - as a % (general consensus here on BP is 10%. include it even if you think you are going to self manage)Vacancy- as a %. (8% represents 1 vacant month/unit/year)

Welcome to BP community Account Closed It is a great place to meet new friends and learn about various aspects of real estate and more.