I know you're taught to generally buy based on in place rents, but real solid market knowledge can make you comfortable with deviating from that rule in certain situations.I would underwrite your deals with 1 month vacancy, $700-1000 per unit in repairs and capex, 10% management, and accurate taxes, $375 per unit for trash annually, $75 per unit rental fee annually, $20 per month for common area electric, $800 per unit if you pay gas heat and hot water, $1400 per unit if you pay oil heat and hot water for tenants

However as of yesterday, the tech showed me the oil leaking off the coils.

With an oil to gas conversion for example, some gas companies will give you a rebate on a new heater.

I already feel like her irresponsible actions have put me (and herself and family) at risk so I'd like to just disable the furnace and provide her with those oil filled space heaters to dummy proof things abit.

In conversations I've had with the great agent @Sharon Tzib, my perspective is that we won't see a precipitous drop due to the oil industry because we don't have insane lending going just yet but we have a slow-down in the real estate market.

Since you're in Houston I wouldn't try it in that, or any other TX market.I agree with MikeOH about ignoring unsolicited emails, unless it's from my cousing Nduku who used to be the Nigerian Minister of Oil, he's got a great deal for you.BTW, I don't do deals with anyone who spends a lot of time trying to convince me what a big time operator he is, or can't spell or use good grammar.all cash

In other words, turn lemons into lemonade!

I would argue that the unknowing results of this had a HUGE impact on the market.While I have yet no opinion on the correlation of interest rates to oil prices, historically, what occured in about 2004 when oil prices shot up but interest rates actually lowered was a bit out of the norm.

I got tired of scraping up fatal accidents and sweeping up spilled oil in the middle of intersections here in Az during the summer months.

Investors caused the banking crisis, the oil crises, the gas prices, everything.My point is that even though we have an investor driven agenda - saying so is not going to garner support from the opponents.