Since this was my first primary residence, I didn't consider the cash-flow potential, however it was a top-floor, water view condo with it's own private roof-top deck, so I felt it had intrinsic value.

Since this was my first primary residence, I didn't consider the cash-flow potential, however it was a top-floor, water view condo with it's own private roof-top deck, so I felt it had intrinsic value.

Outcome was better than anticipated and rents are higher than I expected :) Property came with new roof, AC, hot water, and furnaces.Total rent in 4 units: $3,265What made you interested in investing in this type of deal?

This years record rainfall had many houses have basement water problems that never had them before. 

The only thing we can bring to the table is capital.

Water paid by the landlord.The building has flood insurance too.100% occupancy.Tax for 2018 $ 3241.00Expenses run about $46,000 per year.

At the closing table they will provide the funds to the seller/owner of the home.If you are getting rehab funding, they might provide you the funds directly but I would like to believe that the funds would be placed in an escrow account and paid directly to the GC or you should you need reimbursment for fronting the rehab costs upfront.

Anyone have a recommendation for a water submetering system for a small multi family property?

Nice quiet street near the water. 850 sq feet.  3 beds 1 bath.  

So April comes and he gives us a check out of new account for his back rent, water, lates fees and this months rent.