Investment Info:

Small multi-family (2-4 units) buy & hold investment in Chicago.

Purchase price: $28,000

Cash invested: $38,000

We purchased this property in 1985 directly using owner financing....

In sc you can't move them if they are built before 1976 (it's around this date) easiest way to tell is if it has a flat roof, it's a no go.

We soon learned that he had even stopped paying his flat and had completely moved in without asking the other tenants.

Homes moved even faster with a median 22 Days on Market (35 in 2017) for a total of 8280 homes sold - basically flat to the previous year.

R&M can be $450-$550 per unit per year, depending on year of construction, HVAC system, boiler/chiller, pitched vs flat roof, etc.

Has the asbestos siding been shimmed in a way to create a flat substrate?

@Jordan Callaway I should think about just upping the flat rate that I am charging  now.

I can rent anywhere from $2000-$2200 in my area so I would be relatively flat to positive after refi. 

By definition, lower income areas are higher risk because, as unfortunate as it might be, folks with low income are just one sick kid or one flat tire away from missing work and missing rent.

well one tip is if its near the college charge per person instead of just a flat rate if your looking for a better cash flow.