Major repairs were Year 3 - $3800 for HVAC systemYear 4 - $1600 for plumbing issue requiring 6 foot of tunneling in year and $1000 for elecrical panel updateYear 5 - $2600 in electrical repairs2.  

Multi-Unit Information: $199KMulti-Family FeaturesTotal # of Units: 1Total # of Buildings: 1# of 2 Bedroom Units: 2Tenant Pays Cable, Tenant Pays Electric, Tenant Pays Garbage, Tenant Pays WaterUnit 1 InformationRent: $700Sq.

For example, If the sale price is $100,000 and the gross monthly rents are $2000 the gross rent multiplier (monthly) is 50.As long as your sales are in the same neighborhood, have similar number of units, and the same utility payment structures (water, electric, heat, etc), this GRM approach from an income standpoint will give you a good range of values.You should find that your comps have a fairly narrow range of GRMs and that differences in GRMs can be explained based upon differences between the properties like condition, location, bedroom count, etc.Take the market GRMs and then compare to the market or contract rents for your subject property and this will give an Income Approach value.Compare the Income Approach Value and the Sales comparison approach value based upon which Approach has better and more relevant data and then you have basically done an appraisal

By October 2016, the condo was mine.Since then, my husband and I have done about $4000 of renovations to the condo (repainted walls and ceiling, refinished the hardwood floor, fixed up and reframed the electric fireplace, crazy amount of cleaning, refinished the sink, put in new blinds, brighter lighting fixtures, etc).  

WHY because I had cash.. and could solve their problem in 24 hours or less .. take title without going through a closing attorney or title company.. driving cashiers checks to the foreclosure trustee  etc etc.working them as a wholesaler I suspect as @Sherman Ragland indicated is probably pretty tough.. if you don't acutally have the dough.. then your going to burn a lot of time and energy on buyers who are simply not ready for prime time.pre foreclosure done right can be the absolute most profitable.. but also the absolute most risky.

We also installed phone line in the basement for our use and it was on a separate meter so electric wasn't a issue for billing.

I don't see any expense lines for heat, electric, trash, snow removal?

. :-( horrible houses. heard a story not sure how true but the guy said it was HIS property so take it how you like it... but he said they had a severe thunder storm and he notice water dripping from one of the light fixtures on the ceiling as well as a electrical socket, thats when he went to a hotel. 

It is heated by electric plug in heaters and cooled with window units.  

., upgrade electrical or plumbing, if needed) or just the new room?