And once the cost of new constructions goes down because the robots don't need no stinking paid time off or health care benefits, we're going to see massive leveling of obsolete housing in many urban centers and new apartment building going up.

Now she does psychological evaluations , she’s a clinical director of a children’s behavioral health center and also does a private practice counseling people .

She has had health issues in the past as with her daughter and this caused a financial storm for her I believe. 

With a PHD in a health field and the way you're thinking, I am sure you will be financially free in no time. 

Finally, in case you don't think things can go wrong...and I probably picked a lemon of a property...here's a list of replaced items:In ONE YEAR, we replaced the upstairs tub, upstairs toilet, bathroom vanities in both bathrooms, upstairs oven, downstairs fridge, upstairs water heater, downstairs, water tank for heater furnace, building sewer checkvalve, and screen door downstairs.

What about other tenants with health concerns like allergies to animals?

They are elderly and in poor health generally.  

Once all the health and safety issues are taken care of, your property manager should have a contact for a contractor to handle the rest.

Notice how close it is to where the tub should be?

Can be converted into 3 bed / 2 bath814 Sq Ft Garage Apartment - 2 Bed / 1 Bath - Full sized kitchen and living room3 Car GarageFinancials:Purchase Price: $70,000Rehab: ~$71,500 (not including contingency and soft costs)Closing Costs (Purchase): ~$1,000ARV: $185,000 All-In Cost: ~$156,000 (including 20% rehab contingency)Refinance out 80% = $148,000Net out of pocket: ~$10,000Monthly Income and Expenses:Rent: $2150 ($1300 for main house + 2 garages and $850 for garage apt + 1 garage)Mortgage: $850Taxes: $170Insurance: $170Property Management: $225Repair Reserves: $215Cashflow: $520 per monthCash on Cash Return: 62.4%Repairs and CAPEX will be very low as everything will have been re-done when you finish up the rehab (foundation, A/C units, subfloor, floors, paint, etc)Rehab Breakdown (Estimated):Garage Apartment: - New A/C unit - $3,500- Exterior Soffit/Fascia Repairs - $1,500- Dumpster $1000- New Stairs - $1,000- Sheetrock - $5,000- Paint - $2,000- Floors - $2,500- Doors/Trim/Baseboards - $3,000- New Kitchen Cabinet Doors - $1,000- New Stainless Steel Appliances - $1,500- New Sink/Faucet - $200- Tile Backsplash - $1,000- Granite - $1,500- Shower Tile - $2,500- Bathroom Vanities/Tub/Faucets - $800Main House: - New A/C - $4,500- Foundation - $3,500- Exterior Soffit/Fascia Repairs - $1,000- Dumpster $1000- Subfloor Replacement - $2,500- Sheetrock - $7,000- Paint - $2,500- Floors - $3,500- Doors/Trim/Baseboards - $5,000 - New Kitchen Cabinet Doors - $1,500- New Stainless Steel Appliances - $1,500- New Sink/Faucet - $200- Tile Backsplash - $1,000- Granite - $1,800- Shower Tile - $2,500- Bathroom Vanities/Tub/Faucets - $1,500- Convert Half bath to Full bath - $3,000Financing: Paid cash for the property from my 1031 proceeds.