So in 2 years when I go to buy another rental property the banks will take 75% of gross rents to offset my mortgage payment.

@Dave Grosse, thanks for your kind words.

Originally posted by Dave Grosse: @Shaun Reilly my only goal is to find absentee owners who simply don't want their property anymore.

The one that sounded good until applying the 50% & 2% rule looks like this;Asking $229k. 6 unit, grossing $2805 yr.

I tend to look at anything that gets 1% or higher of the asking price in gross rents.

@Julie Falen the "50% rule" is a quick and dirty rule of thumb that says 50% of gross scheduled rents will go to vacancy, expenses and capital.

Many people figure out the returns aren't what they expected (hmmm my PITI is $2,000 and my gross rents are $3,000 so I should be making $1,000/month.....but I'm not, guess this isn't working out).

4 Unit apartment that will gross $62,400 per year in rent.Sale Price: $295,000Expenses:Taxes: $14,154 (Actual) AnnuallyInsurance: $2000 (Estimate) AnnuallyWater/Sewer: $2000 (Estimate) AnnuallyUtilities (landlord electric account) $2000 (Estimate) AnnuallyIs this a good deal?

So you have allocated $1161 monthly to all expenses other than debt service which is only 36% of the gross income.

I don't know the process in CO however most other states use a formal process whereby a personal rep (exec or admin) is appointed and they may sell, with some conditions, prior to completion of probate and final distribution.A summary probate process may be available for simple, uncontested estates under certain gross dollar value which is less a process than a checklist of items to complete prior to making a one-time appearance for a petition.Check with your local title company for starters and they'll help direct you to local resources, or your local Bar association legal referral service.