I input the info and make a preliminary analysis using the listing info on my computer before I go to the showing, and while at the showing I adjust the inputs based on what I see at the place to make a more precise analysis, so I can determine if I'm wasting my time or if I should pursue it.

To my shock and horror I was told Fannie Mae will not finance in a building that is less than 80% owner occupied. 

@Jack WangHonestly I was shocked when I heard you spent $1500 on paint / light bulbs as that sounds more like wear and tear not damage.

I have done some preliminary numbers and the rents are currently below market and have had long-term tenants. 

Today I sat down and put some preliminary goals on paper:Short Term:Start REI Business - Setup LLCLook for Properties that when analyzed have 20%+ Cash on Cash Return and $200/month Cashflow.Build Business Team - PM, GC, CPA, LawyerBuild Investor Team - Bird Dogs, Wholesaler, Rehab Specialist, Landlord, DevelopersMedium Term:$3000 / mo Passive Income  - 15 Units w/ $200/mo CashFlowLong Term:-Replace Job income with Passive Income from REI Business-$6000/mo Cash Flow-30 Units w/ $200+ CashflowStarted Taking Action today and so far:Found potential bookkeeper with accounting degree.  

I'm long term buy and hold, so quite different from your strategy.By the way, I have found the so-called "turn-key properties" to be shockingly bad prospects for individual investors.  

You’d be shocked by how little actual screening many PMC’s do!

You’d be shocked by how little actual screening many PMC’s do!

Also would you prefer buying an assignment & the preliminary title work already been checked or would you as the investor do that on your own?

They shipped it at no cost, which shocked me, but hey, I'll take it.My opinion is spending a few hundred bucks for quality is worth it for great customer service when you need a part that is not universal and can't be found at Lowes, Ace or HD.