When I bought property ex landlord was paying for Cable TV, I asked if anybody was watching and all 4 said no.

Payoffs are about 280K.The house is currently owned by my girlfriend and her ex-husband.

How many square feet, how many bedrooms/bathrooms and what type of cosmetics will be entailed in the home (ex - laminate floors/granite, brick face, garage etc...)Please respond if you either do the work or have a reference.  

Besides the obvious benefits of buying like new (more depreciation, deferred CAP EX expenses) what are some others?

maint 5% $2,838.00 500 month cap ex 5% $(2,838.00) 5% rents vacancy 5% $(2,838.00) 5% rents laundry $1,200.00 $100 mo

I have a few questions.I went to  sign escrow docs about 2 weeks before closing escrow, I was never mailed doc(fed ex would hv bn good ) prior to signing.

Scorched earth would be both tenants leave at the same time.Cap Ex should be around 10%.

Do we accept putting additional cash into our first deal or do we keep our eyes open for another deal.Original Offer:Price: 153k ($31k into the deal)Anticipated rent: $2,000k/monthOperating expenses: $9.4k / year (includes management, cap ex, vacancy, taxes, insurance, etc.)Cashflow: $4.2k / yearCash on Cash return: 13.68%The appraisal came in at 146k and they raised some very valid points on why the property was not worth 153.  

Purchase price - $50KEstimated Rent $11005% vacancy = $555% Cap ex = $555% Maint. = $5510% MGT fee = $110Mortgage = $253, 20 year amortization @ 5% Taxes $116 per moInsurance $75 per mo total = $719 per mo2% rule = 2.20%Capex = 15%CoC = 33% (turn key, est rehab to be $1000-1500 - new appliances, needs a few new doors) , $2000 closing costs, $10,000 down payment) The duplex does only have 1 furnace and 1 water heaterMonthly cash flow = $381 Am I missing anything? 

Set aside for Cap Ex expenses and a reserve to support rental loss.