Hi BP,I may have found a potential wholesale deal if I can get it under contract.ARV = $565k (based on recent sales of 4 similiar properties in Eckington/Bloomingdale DC)Estimated Rehab = $25kAsking Price = $343k3bd/1.5bath...1480 sq ft...Eckington NE DC....few blocks from red line Noma Metro StopLet me know what you think.

This propery is just about 1 block from the ocean.

I may have found a potential wholesale deal if I can get it under contract.ARV = $565k (based on recent sales of 4 similiar properties within a 0.3 mile radius)Estimated Rehab = $25kAsking Price = $343k3bd/1.5bath...1480 sq ft...Eckington NE DC....few blocks from red line Noma Metro StopLet me know what you think.

Rental rates in the area are 1100-1300 monthly and there is a need for apartments. 3 rows of townhouses were just build a block away.

I sold one of my rentals in January 2 blocks away from that house, I was only able to get $36k and it was a fully rehabbed turn key 1000 sqft 3/1.

The same property can be a great deal, a decent deal or a millstone around your neck with the major difference being measured by 5-6 blocks which no out of town shopper is going to pick up on in a quick trip.That being said I just closed on a legal duplex/off the books triplex that I'm working on getting the 3rd unit legitimate status.

The area was worse than I expected with many boarded up homes on the block.

I actually spent the better part of the day poring over a few of the articles you wrote, including the "How to Buy a Small MultiFamily..." case study and the "How to Make a Million Dollars..." article.

The landlord could absolutely be right that you and your roommates caused the problem or contributed to the problem by your actions (putting too much moisture in the air, not using exhaust fans properly, blocking air flow) or non-actions (not cleaning).

There are rehabs/upgrades and new construction on almost every block.3.