There are investors that do this kind of thing with HUD homes as well.They sign paperwork at closing that they are occupying the property.Another component of this is fraud to a lender on a loan if you say you will be living there.The reason is lenders give certain rates to owner occupants because statistically you will fight much harder to keep a place you live in.If it's just a bad investment it is easier to walk away hence a higher rate and more down.This property from what you said is 2,400 X 12 = 28,800By half is 144,000 at a 10 cap based on 50% costs.The carpet and paint the bank put lipstick on it it appeal to a home buyer living in one unit and driving the price up.On a quad typically you could expect about 8,000 for the siding,4,000 for the roof,6,000 for 4 outside A/C units,if interior bathrooms and kitchens are outdated about 4,500 by 4 units is 18,000,then water heater and heater about another 6,000 total.So conservatively I have about 42,000 in immediate CAPEX.Every areas cost is different so I am just throwing mine out there.Now the other you say 20 quads total is what you need to worry about.If there are a bunch of short sales and foreclosures from vintage 2004,2005 loans then the new purchaser with a cash offer or a small debt service will rent below market to fill quickly and turn more or the same monthly cash as you.So you starting out at 600 rent monthly might go to 550 or 525 in your development.I have seen this happen.I have also seen even if your building is well kept quality tenants do not want to live next to the other buildings where landlords put in suspect tenants to fill up.Also some landlords with high debt service will drop rent instead of repair to keep tenants so they won't spend tens of thousands out of pocket to rehab.

Tax payers will now be able to dispose of a component of the building when it has been improved.

Don't drop that because if something happens to the interior (flood, fire) you will need that $10K to replace your components.

There is no specific contract involved though most deals will use a P&S contract.Subject-to is also a technique and not a contact.Lease options have a lease component and an option component.

I would separate this into two components.

From one that speaks to people in foreclosure on regular basis, one repeating emotional trend I see is embarrassment---in general, folks in this position often act too late because they are embarrassed (pride is another good emotional anchor) with admitting failure...Although I don't market to these individuals, I understand the mindset all to well and believe any marketing campaign to these folks should include the following components:- Discretion/Privacy: Give them an opportunity to learn more without revealing themselves initially---offer a white paper or recorded info-message which would allow these distressed homeowners to learn without the need to speak to somebody. - Hope: Too many marketers are appealing to fear---although fear is a compelling emotional trigger, the majority of people don't want to be reminded what they will lose, they want to be reassured that there is a chance for recovery

The contributions are a combination of the usual $15000/$20000 401K limits and a profit sharing component.

If these things were done and these components of the building are all new, then you can certainly reduce your operating expense down to nearly nothing, especially considering the onsite maintenence guy.Also, what would be the financial terms of your purchase?

Using both letters and postcards will increase the likelihood that your targeted prospect will call you.There are three key components when prospecting via mailing out letters:Getting the prospect to open your letterGetting the prospect to read your messageCausing the prospect to take the action you indicateLarge companies have gone to expensive methods to trick us into opening their mail.

I can understand that some may say to hire someone with workmans comp only, but when hiring a handyman, landscaper, with a $50-$500 job it's just not realistic to expect them to have it.