Winson C. - I'm a former VP at a NYC ad agency so I know a thing or two about advertising.

Would you recommend jumping right into a cheap house (15k) that needed a lot of repairs like replacing water pipes, gas lines, floors in one room, A/C Duct, and rotting wood on the exterior?

@Elizabeth C. luckily it was a property owned by the bank in question.

The main reason I hired someone else is b/c I wanted a local mentor who I could meet w/ face to face on a regular basis. 

I deduct them from the price I need to make the property a deal, but I have yet to close on one of these (I get outbid b/c others are willing to pay over asking plus the fee - which I also feel is high).

We just agreed on a price for a 96 unit class C complex.

Use initial P/L/C percentages to account for each partner's contribution to the project (time, management, capital, etc.)

I plan on seperately metering water asap.Problem is hot water for all 3 units are supplied by 1 hot water heater with that electric being paid for by tenant in apt C( they do not know they are paying the electric for everybody's hot water use).

Here's the deal - b/c I was new to REI, it took me 9 months to find a true deal.

If it were me I would definitely want the power on to see if the a/c and heat work if the electrical systems work properly and just to make sure that you can see the actual condition of the place first.