Feel free to hit me up if you want to compare notes about North Co.

I don't think this is gonna ruin you, but unfortunately it will give you a small hit.

If i sell now i take a $80k hit before fees.

Inspectors check the electrical system with a generator and the plumbing system with a copressor.

It was terrible condition, had to take it down to the studs, redo electrical, anything of value had been stolen.

Plus, they point out that the properties are nicely rehabbed, in solid neighborhoods with high rental demand, tenants are rigorously screened, and to cap it off, the buyer may well sell the property at a big gain well before these repairs and capital expenses start hitting (remember, you presumably "captured" a boatload of equity when you purchased), at which time you can roll into another property.At any rate, if you hold the property, the assumption is that Years 2-30 will experience none of these expenses.

If you want to be more certain that you'll hit the mark on a retail sale in terms of demand and price point, get one or two (if possible) realtors to come by and give you an opinion.

My apartments are 30 years old.I have a maintenance guy do unit checks every 2 weeks.Basically checks water heater,heater,outside unit,light bulbs,ceiling fans,electric,plumbing,etc.We have water included in rent so stuff like replacing springs and o rings in the showers to prevent drips and replacing flappers in toilets to keep the water from running all the time.Sometimes the shutoff valve at the wall for the toilet doesn't close all the way to off or the float mechanism goes bad.You can buy a water pressure tester at Lowe's for 9 dollars.Just screw it on check for pressure.Should read 60 to 80 pounds.If it's higher than that you have to find the pressure regulator valve next to the water cutoff for the unit and adjust it.After adjusting if the pressure doesn't go down to 60 to 80 you have a bad pressure regulator that needs replacing.The importance of this is pressure is set for the cities and counties at around 160 for the fire hydrants.If pressure is high inside the apartments it can cause leaking and premature failure of plumbing parts.On the insurance we are required for replacement value and can't do market value.

For electric and gas I have landlord agreements with the power company.

I know I cannot count on tax values, but comps are hit or miss on this one.