Over the last year we bought a few deals that went through the wholesale underworld that many investors passed on. from those we've made over $150k.

But we settled on an arrangement that we both were comfortable with: he bought a 2BR, 2BA condo for cash, and I paid him rent that gave him a 4% annual return over PITI—and I agreed to pay all maintenance and repair costs that came up.

An individual condo that can be bought by itself is always worth more than that unit as part of a multi unit  property, assuming it is Ina decent desirable area. 

Yes you may have bought at a great price and with great terms but if you do not find a good manager you will lose money month after month.

@JEFF D. wish I could be more helpful to you, I have bought and sold 2500+ units and never had to do a Phase 2.As you finish out your due diligence period, and assuming you will sell this asset at a future date, a Phase 2 could limit the number of buyers in the future so give this 12 unit deal a real close look to ensure it is a solid deal.Good luck!!

When we were starting out a few years ago, I bought two houses next door to one another from a landlord looking to get out of the business.

Looking to connect with anyone who's bought and built a Deltec Homes prefab house.

I bought a brick 1,300 sq. ft 3 bed 2 bath house that was just under 2 years old for $129,900 that was about 8 miles from campus, on the edge of town. 20% down = $26,000.

All properties Cash Flow, and as you can imagine all properties were bought pretty low. ($40k, $20k, $25k, and $60k) Equity should be  25%-50% including the purchase price of these properties.

You bought the property, you bought the problems.