I'm looking for opinions on a deal I have just began to pursue. 24 unit12- 1 BR12- 2 BR6- 4 unit buildingsTennants pay heat/elecLandlord water/sewer3.25 acresasking $720,000 or $30,000 per unitSmaller mid-Michigan town near expresswaySome updates have been done, for the most part apartments are worn.

Meaning after you buy the sucker, be prep'd to find water leaks, gas leaks, bad furnace and just simple things that wont work.

A small, 2' X 8' drop cloth.7. 1" and 3" putty knives.8.

If you drop the ball the attorney stands a real chance of losing the client and future referrals from them.Think of it a different way.

Your Return on Equity is not that great and the value of your property will probably drop over the next 12 to 18 months.

There could be other assumed obligations (heating, cooling, running water, safe electrical when dealing with a rental and you are the landlord).If you want the ability to buy something in the future but not the obligation you are talking about an option.

Are prices dropping at all?

Anyway, I agreed to sell at $360k dropped my credit to buyer of $2k, my realtor took 1% less commission and we closed the deal.

Be aware that the as the market deteriorates, the sale prices can drop faster than you lower the price.Mike

The only items that tenants pay for are their own utilities, not to include water, sewer and trash.