Drew Castleberry My feeling is why would they have a business model that has them on the hamster wheel doing the heavy lifting of constantly identifying, closing, rehabbing and selling when these properties are supposedly 2% cash cows.

However, it could use a cosmetic face-lift - new countertops, interior and exterior paint, landscaping, update lighting, new windows, new toilets and vanities. 

If not, you'll have to pay for that (and in my experience, tenants in the area rarely do apples-to-apples comparisons when considering utilities, so I'm not confident you can get the equivalent more $/month in rent just because you provide utilities).

I'd then have your owner bid the work as well so you can compare them all apples to apples.

We lifted the drain cover and there was no water visible and all we could see was sediment.

Looking deceiving simple - NOI / price pad - they are only really useful if comparing apples to apples in the same bushel ... and it helps if the same person is doing the calculations on them all (using the same methodology obviously).Even then it is just a ratio which allows you to quickly compare the cost of the similar cashflows ... it doesn't confirm any of them as a good investment.

You need a BS meter dealing in business and especially real estate, I mentioned the bad apples, following the wrong strategy or mentor can end up losing you money at the best and in jail at the other end of the spectrum.

It's Bridgeport and Connecticut, you probably get more growth buying Apple stocks and you don't have to worry about the city taxing you to death.  

We had a neighbor literally lift & move his 2100 sq ft 2 story Lakehouse back 20 ft onto a new foundation/crawl space, (below the frost line).

The tiles on my roof started shaking and cracking (according to the contractor) the wind caused the tiles to lift up and break.