It might earn more, if the property contains a residential structure.

The same neighbor's house also flooded but the bathtub contained most of the sewage.  

We. had to pour a floor with a wall high enough to contain 150 or 200 gallons, it was concrete.

hi all, first off this deal scares me, not that it is bad but that it is big, there is an investor that wants to unload his portfolio of rentals and retire i received a voicemail and email from the investor containing the info and he asked if i would be interested, i definitely am but i look at the size of the deal and the potential for growth i feel as if im looking at a giant, bordering paralysis/analysis. located Near Bradford, PA and he is open to creative financing, so here are the numbers.asking $585,000  - market value 750-800k10 properties totaling 36 unitsGross rent $229,320Taxes- $26,200Ins- $13,225maintenance- $17,515PM- $34,164Utilities- $72,337______________________NOI- $65,870now i plan to swallow my fear and call him tomorrow with a already large list of questions, all of the units are on a month-2-month lease and he has had 95% Occupancy over the past 10 yrs. all properties are in the same town in a decent area (C+   B) and are rented ( 500-550 ) quite a bit blow ave rent for the area ( 650-800 ) so definitely room for growth, in addition i want to figure out why the utility expense is 72k.. that's nuts i am assuming he is picking up a lot of the utilities so with some adjustments to management, rents, expenses i see a great opportunity.i also ask what due diligence should i do on the PM since they have one in place and what should i expect in the transition if we move forward i currently manage my 3 units myself an see that 34k and wonder if i could handle the management or see how i can tighten up the reins on the PM to get things moving for optimum cash flow.  

I'll take a shot but keep in mind I have no clue what your house is like but good educated guess would beKitchen - $8000.002 Baths - $7000.00Flooring mix of carpet & ceramic tile - $4500.00Electric (meaning light fixtures and outlet/switches) - $2500.00Plumbing (meaning finishes) - $1500.00HVAC (meaning new 80% furnace/3 ton condenser) - $4000.00Landscaping - $1000.00Siding - $7000.00Don't forget painting - $3000.00And you have a $500.00 cushion lol...not bad for a guess but if I was forced to do that this is how I would budget it. 

A property that looks old and dated will be vacant far more then a nicer one that has been updated with new countertops, nice ceiling fans (not the cheap 4 blade white ones), new vanities, nicer faucets, exterior neutral paint colors, ceramic tile in kitchen and baths.  

A home is certainly not a home, otherwise we all mind as well shop for rental properties on paper and not consider the home. 2 homes side by side, but one home has vinyl plank flooring instead of carpet in high traffic areas, ceramic tile in kitchens instead of vinyl, upgraded bathrooms with ceramic tile and accent tile, newer vanities, designer ceiling fans in living room and master, new counter tops instead of the old dated ones, etc., will perform better.

Your remedies are contained in your contract, period.  

Your notice to quit must contain specific language to allow you to accept rent after the notice to quit is served without it interfering with your eviction.

An "illegal" lease that contains language that conflicts with rental laws can be a train wreck, especially if you have to take it to court for an eviction.Having a solid lease doesn't necessarily mean you have to spend a lot of money either.