It wasn't anywhere near the magic ratio of 1.5 rents/purchase price but with a slight bump in rents and if they accepted a lower offer, we might get the ratio pretty close to 1.25 which I was ecstatic about in this market.

For example, Fannie/Freddie is pretty good at giving you at times a response quick, but others like SAM, the bank of new york, etc. may not have an answer ready.

@Jason Ma That's a pretty large spread on a cap rate range.

I don’t quite know how to spot the neighborhood that’s heading for an upturn, but it’s pretty easy to get a feel for a neighborhood that isn’t.

I manage pretty much it all and my wife does the bills and emails and such.

I spoke with a friend who is a structural engineer and he said it looks like it could be pretty bad, so he suggested having someone take a look in person. 

$800 is pretty cheap for insulation, so I can't see how it would hurt unless the company that's doing the audit isn't reputable.

They are pretty fall apart.I would suggest you use someone close to your parents.

I had about 30 million in credit facilitees with banks at 6 to 7 % and lent it out at 20% apr and made the delta.. we did pretty good until the market cratered .. then it was OH boy.

(At times only putting 5% down in each deal, under a certain ARV)But for a new investor I would use these numbers, and if you get something cheaper, then great. 12% and 2-3 points is pretty standard for someone that hasn't built a track record, yet.