We added new closet doors, ceiling fans and light fixtures throughout, and had it freshly painted inside and out with new baseboards to finish it off.We did some repair work on the exterior siding, and had to recreate a side gate.We blasted all the weeds and cleared both front and back out for a fresh start.

Oh, and you know if you are heating the building for them, tenants will keep their windows open in the winter for the fresh air.If you buy from a retiring landlord and/or get inherited tenants, expect to pay the piper eventually in terms of deferred maintenance and/or evictions. 

A clean, freshly painted/carpeted singlewide will rent for $750 (2 bedrooms) $825 for 3 beds.

These pieces support the splitting stringer and gives me "fresh meat" to screw down the treads. 

While I was back to renting, my brother( who was fresh out of prison), came to visit.

According to John, working with me was like a breath of fresh air.

Regardless- let's assume you rent it out for 2400.Maintenance- I like to set aside 5% minimum- and that's if the place is a new construction or fresh rehab.Capex- prorate the cost to repair your roof, boiler etc..

Happy Weekend, BPers!I'm just now joining BP after months of reading, podcasting, and lurking. Real estate is something that I've always found appealing, but have never found "investable" until I started digging into ...

Hi Jeff,That's a great theoretical question, and one I used to ask myself when I was 15 years younger and fresh out of undergrad with "efficient market theory" "optimal capital structure" "modern portfolio theory" "increased returns are correlated with increased risk" and other articles of faith that had been passed off as fact by the professors in the economics department at my very prestigious college.A decade and half later I no longer buy into the idea that markets are efficient - neither stock markets, nor real estate.There is a deep divide between people who buy the theory and those who don't.

We needed a fresh start.