The unit would run off its own power, we would need to install septic, etc. total cost could be around $80-100k.

I guess my first call would be to the all the utility companies, water, power, gas, trash, and verify whose name the utility accounts  are in.Notify the utility companies that you are the new owner of the property and if their is any change in status of service..

What i did not think of was the extremely high power bills that these tenants & most low-income individuals live with and accept. $150 dollars a month for a 2 bedroom 900 sq. ft apartment is what my tenants in this building are averaging. 

I currently work in the power industry as a project manager - I travel about 250 days a year, but I'm trying to take on more RE investments so that I do not have to travel as much.

In other words, what did you learn specifically from that first purchase that enabled you to successfully purchase a 7-plex (aside from any widely available analytical tools)?

Pictures are powerful!

I am going to look up a ductless split system and see what gives me the most cooling power and the least unsightly giant units on the walls!

Where do you want your real estate income to be 5 years... etc...I know great lenders that could talk to you about the tipping point of whether to refi for equity, or sell to apply more buying power to get a higher leveraged income that you have with the current portfolio.Feel free to call or email anytime - your strategy, and longer term goals should define your options, and quiet the distractions.Thanks!

Never forget the power of networking at your local REIA.

Alex Craig Pros: Free for teachers & students, 50% for nonprofits, free 30 day trial, Collaboration Tool Cons: Not designed for real estateMS Project “You can not beat MS Project and how powerful it is for the price.It is COTS and I have management a portfolio of $500 million construction projects with it at once.Build your MS Project schedule with cost and export to Excel for status updates.