We are testing the waters with rentals.

Hi,I am looking to buy a home that had water damage and needs around 50K wort of work fix up.

it has crawlspace issues, retaining wall issues, and roof issues with visible water stains on walls and ceilings in multiple rooms.

Biggest rehab was we had to completely redo the bathroom because the subfloor under the toliet and shower were water damaged.

I have emailed the historical water department with a foia request to try to get a bill that could read the property as a 2 unit but haven’t had any luck.Thank you in advance for your time.

Typically 10-12%, unless you have a pretty big portfolio.What about water/sewer, lawn care, snow removal, and admin/professional costs.I bet you end up between $800-900/month cash flow, but that's still really solid!

Purchase price: $61,950 Cash invested: $61,950 Fix and Flip Project: -3 bed/ 2 bath-Basement-Purchase Price: $61,950 (Online auction)-Appraised Value: $124,000-Rehab Budget: $20,000 (HVAC, new water heater, paint throughout, new counter tops, appliance package, 2 light bathroom Renos)-Projected List Price: $135,000-Projected Outsell: $130,000Good neighborhood, I sold a house in November very similar (but actually only 2 bed/ 2 bath) for $126,000.Should be finished with Reno beginning of April!

The owner has provided the listing agent with the following details:Asking price $795,000 (too high in my opinion, but it has been for sale in years past so I have to think the owner is motivated - so far, numbers only look good in the mid 600k's as a purchase price)Annual gross income $103,000Property Taxes $11,000 Insurance $3,500 Utilities (water, sewage, outside lighting) $8,200.

If it is urgent, i.e. water is flowing through the ceiling, call, but beyond that it needs to be a text, since most are not super urgent and can fixed with a phone call to a repairman.Rent: My only process is a mental one.  5 tenants have their checks automatically issued and mailed through their bank, so those always come on time. 

Always include, even if you plan to self-manage at first.What about water/sewer, lawn care, snow removal, and admin/professional fees?