Determine your costs (taxes, insurance, maintenance, vacancies, etc), or use a cost factor. 3.

Though i expect to contract for $255,000 Details follow. 8 plex renovated in 2006 and 2007: new roof, all apartments new carpet, painted, new windows, new lighting fixtures, new kitchen cabinets and appliances.4 two bedroom and 4 one bedroom all with w/d hookupsCurrently 100% occupancy with 1 year leases.Sheduled gross income $3300/monthtaxes and insurance $2500estimated maintenance $1800all apartments on separate water and electriclong time handyman on premises gets rent reduction for service.

Consider all your buying closing costs, holding costs (utilities, insurance, property maintenance, taxes), and the selling costs.

For example:Closing on Purchase: MECash down payment: YOUFind tenants: MEScreen tenants: MEPrepare and sign leases and other dox: MEManage property (maintenance, escrows, rent collection): MEDecide to sell: BOTH OF USList property and conduct closing at sale: ME...From this you can better understand and justify an equity split.

;-)A few ways:Sell a $600K house per day as a super agent.Rehab/Flip 4 houses per week at $20K profit.Own and run a mid-sized medical practice.Own and run a large landscape maintenance company.Consistently bat .300 in the big leagues.

Not paying your condominium maintenance fees is also a quick way to get into a bad foreclosure situation.

Does that include collecting rents, screening tenants, marketing for new tenants, and making any types of repairs or regular maintenance?

You still won't get the top rent for the market.More importantly, the tenant that overlooks the condition of the 30 year old kitchen is less likely to keep the new areas "new", so you end up redoing everything in a couple years anyway.IMHO, there is much more value in doing a complete rehab, with an eye toward minimizing future maintenance by design.

Here in Texas the AC goes out a lot and is the number one maintenance expense.

The owners have local, on-site property managers and maintenance staff at each location and I managed them and acted as a go-between with them and the owner, probably similar to what you would call a regional manager.