We always add a metal roof with overhang to any older homes we purchase.

After analyzing over 1,300 active single family homes in Reno, Nevada we found that the majority of homes cash flow around a 4% cap rate, with outliers in the 5s and even some at 6%.A cap rate is a measure of a property's investment potential, calculated by dividing the property's net operating income (NOI) by its purchase price.

Purchase price: $194,500 Cash invested: $42,000 Fits the perfect long term cash flow model

Below are the details of each property, including purchase price, current estimate, and equity, along with their respective cash flows:Home 1 - Condo, (2 BR, 2 Bth)  Fayetteville,NC-  Purchase price $50,000 - Current Estimate $75,000, loan amount 0 = Equity $75,000Cash flow - Rent - $825, PM Fees $75, HOA Fee $100, HOA Assessment $163, Taxes $50, Ins $25, Loan Pmt $0 = Cash Flow $412Home 2 - Condo (3 Br, 2 Bth) Fayetteville,NC- Purchase price $89,000 - Current Estimate $155,000, loan amount 0 = Equity $155,000Cash flow - Rent - $1250, PM Fees $112.5, HOA Fee $231, Taxes $90, Ins $30, Loan Pmt $0 = Cash Flow $786Home 3 - SFH (3 br, 2 Bth) Little Rock, Ar - Purchase price $189,000 - Current Estimate $300,000, loan amount $85,000 = Equity $215,000Cash flow - Rent - $1500, PM Fees $150, Taxes $269, Ins $156, Loan Pmt $766 = Cash Flow $159Home 4 - SFH (3br, 2 Bth) Abilene,TX - Purchase price $225,000 - Current Estimate $315,000, loan amount $51,600 = Equity $265,000Cash flow - Rent - $1850, PM Fees $185, Taxes $583, Ins $145, Loan Pmt $1400 (0 Interest) = Cash Flow -$463Total Equity = $710,000Total Cash Flow = $894Sell, Sell with 1031 exchange, Cashout Refinance, HELOC'S...Too many options, i don't know what to do.  

Besides the purchase and sale agreement what other contracts would I need? 

About 15 years prior he had purchased an inexpensive tract of land near Lake Houston outside of Huffman, Texas.

Best of luck with your next purchase!

I am in the early stages of a 203k purchase/investment in Jersey City or Union City, New Jersey (NJ).

The breakdown was $1845 for 134 sheets (and other drywall materials) purchased from Homedepot (using various coupons and commercial discounts) and $1900 in labor for a total of $3745.  

I purchased a vacant parcel in Mount Airy that was adjacent to the sellers home.