I only sent offers to extremely distressed properties based on provided pictures.My question has to do with direct mailing to Pre-Foreclosures.

While cap rate based on existing T12 may only be 7%, it is likely a hotel could achieve 10%+.

Even my $3,360/yr maintenance budget feels a little low to me based on the rehab to be done on the first floor.Now, when I plug these numbers into the calculator referenced above (including an 8% vacancy and $280/mo for repairs and maintenance), I can see that you'll have monthly expenses of $1,640.  

Account Closed From the little information I was able to get, it looked like about $200 per unit based off the gross rent/numbers of unit.

If the tenant does not move out after 60 days, then you will have to file an unlawful detainer case. 

Im based out of Long Island and have been looking at properties in try state area.

Based on my projections, I would be able to purchase the 2nd rental after 3 years.I would then continue to use this plan (saving all rental income towards down payments) to purchase additional single family rentals around a similar price point of $150k.  

The original holder guaranteed the initial investment amount and the ROI was a target based on performing note.

I am based out of Newburyport and live in Merrimac and don't have enough good things to say about the area.  

The numbers look good and based on them we are looking at positive after-debt cash flow of $289/month.Simultaneously we are looking at another property where we would be spending $7000 less in rehab costs but will cash flow for $230/month.