(He was on podcast #260) I totally was blown away by the way he did the role playing negotiation at the end of the podcast and decided to buy his book.

Total interest would come out to $56k over 30 years.

Also, i would budget for only collecting about 75%-80% of the total water/sewer bill because like rent, tenants don't always pay their water as well.  

A List Broker can help you find a list of Multifamily Home Owners.Here are some list statistics for Tulsa County:1211 owners with 2-4 unit homes with a total of 1,660 properties in the county618 of these owners are age 60 or older1392 of the properties have a home market value under $200,000867 of the multifamily properties were purchased more than 10 years ago

Totally normal....Just remember.....ANYONE can be a "contractor"...... no real skill....no formal training......many are unlicensed etc etc etc.

I have not done large MFRs, so maybe the landscape there is different than smaller MFRs and SFRs.That said, the total commission is agreed to in advance in the listing contract, so working with the seller's agent is not going to save anybody money. 

I know the best answer everyone can give is to consult my tax attorney, but hopefully this conversation will be a value add to the knowledge of the community as a whole.Primer...my personal holdings use the BRRRR strategy and currently total 5 properties out of state (SC).

$100 Vacancy $87 Property Mgmt $87 Total $574 $86/month owner financed loan Monthly cash flow $215 CoC 7% with management/ 10.6% self-managedRefi $34k leaving 20% in ($7k), CoC jumps to 33%, $28,000 back outThoughts?

Most of the bankers I talk to want to make ARV the lesser of either my total costs into the property or appraised value.

So, here is my question... how does the quit claim deed work with the existing mortgages (there is a first and second, totaling $118k)?