We've found a couple of properties to our liking so far, and using the analysis tool provided by BP, they both seem to be good deals. 2 in particular stand out, both 6 units, one we can easily afford with the 20 % down payment, and the other one, which we can do the 20%...not so easily.

I've seen things before like you get back 90% of the cost of a kitchen or bath, 85% of landscaping, 95% of interior paint, etc, but I don't think that's what you're asking.On most rehab related things, I try to figure what is FMV of this unit AFTER I have done the everything to bring it into "easily marketable" condition?

If for no other reason, I think that you can get easily pigeonholed as either/or.

However, even if we use your numbers, this is a very poor deal.Gross Operating Income $1,519,291 $1,559,291 Less Expenses $518,179 $472,297 Net Operating Income $1,001,112 $1,086,994 Debt: ($9,975,000, 20 year, 7.5%) $964,296Cash Flow: $3,086 per month ($36, 816 per year) or $14.82 per unit per month.If anything is not as you hope or anything changes (like your debt adjusting), this could easily lose a lot of money.Using more realistic operating expenses, this deal is even uglier:Here's how I would evaluate this deal:Gross Operating Income $126, 608 per monthOperating Expenses: $63,304 per monthNOI: $63,304Debt: $80,358Monthly LOSS: $17,054I would suggest contacting the National Apartment Association or another apartment/landlord association and researching the operating expenses issues.

the hardest part is filtering through the daisy chain of bulls*** and lies. dont sign any ncnd's until you know someone is real.

If you have digital pics, you can easily package a simple PowerPoint presentation to email prospects.

You can much more easily keep track of changes in the market, new laws that are coming and other things that are hard to track as a 1 man band.Be less concerned about going to a new meeting.

Okay.If you aren't using it in Texas, I wouldn't recommend using the actual form, but you can retype it pretty easily.

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If you are lucky and the wiring is in conduit, you can easily convert, but generally you will only see that in a multi-unit or concrete construction.