How much will you spend in repairs on a 1920's house with renters ? 

Besides that, I have a credit repair and funding company that helps entrepreneurs get their businesses going.

If the property does not require an extensive rehab and just needs cosmetic repairs then a standard landlord dwelling policy in most cases depending on the carrier.

@Gene PanicciaManagement fees vary, but it's not uncommon for a PM to charge fees for managing tenant-paid utilities or coordinating repairs.

Any repair issues the new acquisition has you will feel to much greater magnitude due to the property carrying a lot of debt.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

Lowering your standards invites expensive evictions and repairs. 

Hey @Brad Roche - We do a significant amount of renovation loans (both Fannie May & FHA) here in Chicago and prefer the Homestyle loan only because it's less stringent on the borrow about what they have to repair, and they provide the general contractor a material draw at closing which helps the project start on the right foot.I thought the minimum down payment was 5%.

since purchasing the property with a 10% down portfolio loan through a local bank, I have done extensive repair work and renovations.

Purchase price: $90,000 Cash invested: $55,000 Triplex in SE Cleveland (D+ neighborhood)Purchased for 90 and saw 105 for valuation. 25% down plus closing costs and unit repairs has led to about 50-60k going into the deal.