The ARV's are usually based on retail sales not sales of rental properties.. that's why anyone buying a rental in any mid west rental market no matter what they pay for it basically will not realize phantom paper equity unless your a highly sophisticated marketing machine that can sell out of state

What makes this deal a good one for me, is that you are intending to have it for a long term buy and hold portfolio addition and not a cash flow machine month-to-month; coupled with your diversification of your asset classes and moving some of your asset base out of equities and into physical assets. 

How old are your machines?

They actually used a horizontal boring machine so the concrete didn't have to be broke up. 

You have to become a marketing machine (online and off) to get potential deals. 

I am currently a machine operator at a manufacturing plant in my area.

Students must live in campus approved housing for freshman and sophomore years, and junior and senior students with scholarships are also required to do so, however juniors and seniors without scholarships tell me they are anxious to live "off campus"Since apartment is one block from university, students can walk to campus, saving them parking permit fees.Additional income could be had by putting in coin laundry, soda/snack machines, and renting out storage units in basement as well as garage space.I have a friend that currently is the maintenance man for the entire university, and he is questioning students as to how much rent they are paying to live off campus currently.OPTIONS:  Rent furnished apartments to 4 students per two bedroom and two in basement unitRent furnished apartments to 4 students per two bedroom and create common area in basement for study/recreationRent all units unfurnishedOption to raise rents by including all furnishings, cable, wifi, cleaning service etc. with them simply paying rent and electric.FINANCINGtax value (not market value) 105,000Taxes $2,200 with no exemptionsProperty currently has a 30K mortgage left of a 55k loan previously taken out to "give first child his half"Owner, due to age is most interested in payments, and leaving remainder to 2nd child for "her half" Owner has expressed the following offer :30K to pay off current mortgage, and 250K to purchase an annuity that would pay $10K/year for his and his daughters lifetime.In its present state, I question whether the property is able to be financed FHA due to condition, though it is a solid building, the maintenance has been deferred.comps on property are practically non existent.MY SITUATION:I have perfect credit, and am about to flip a seasoned home with no mortgage and expect to clear approx. 70K.I am single, steady long term employment, and have no debt.I have a realtors license in inactive status, and have hands on experience with major property improvements.I am a "Dave Ramsey" girl, and debt makes me quiver...  :-)Note: Property is currently in a Life Estate Rev.

Just want to cover the increased utility cost and not have to deal with maintenance or money collection on the machines.

I'm interested in working with like-minded investors to re-build my wealth so together we can create an income machine, sustainable through all real estate cycles, keeping the company private so internal decisions are stream-lined when direction changes are needed.  

It's really no different than refinishing existing flooring or repainting, replacing a broken window, or buying a new washing machine when the existing one dies.Now if you were to do something like upgrade to hardwood floors from carpet, that might be a different story.