I have been looking for properties in Kansas (Wichita and Kansas City) because they seemed to be profitable for renting.Let me lay out an example property that I am looking at to see if my logic is sound.

If you need to lay out additional cash expenditures (deferred maintenance), the 1.5 calculation no longer applies as your "cash in" is higher.I would offer more in the $150 - 160,000 range and get closing costs included.

The reality is there are MUCH BETTER properties out there than buying this POC at any price.If we are having to come up with extreme examples under which this property might possibly work it is a loser.If you change the layout etc. it still is on a crappy sloped lot.Any property manager will tell you these types of properties even after being rehabbed nicely are hard to rent out to quality tenants.On value add deals the investors I talk with that own 100 to 150 units at a time go for buildings that are at about 50% to 60% occupied.The sweet spot (as they call it)where all the copper and electrical is still there and some tenants are paying for cash flow.The buyer can convince the bank that the property is going down hill to take a lower price and the seller if not the bank has already given up on turning the property around.Over time the new buyer can rehab each unit one at a time to turn around while having cash flow.

Would I be allowed to re-edit mostly everything but keep it as the same layout and ideas you have incorporated?

., isn't what I'd consider "working" for you.Also, when selecting an agent, be sure to lay out what it is you want in the way of property, and what you expect in the way of service, then ask if that works for them.

In fact it could actually reduce the sales price, but since I do not know the layout, I did not want to assume too much.3.

If they're the listing agent, it is likely that they have provided valuable information to the owner, learned the layout of the owners property, informed the owner of their responsibilities under the law, listed their home in the mls for every member to see, show and possibly sell, advertised their home in print and online, fielded telephone calls related to their home, conducted showings of their home and maybe even held an open house or two.

thank you for that very simple layout....very helpful.

If the money person is only bringing money, then I'd lay out all of the requirements for the property expected in a list and designate which of you will do what.

People have tried to buy it, but seems like most people don't have ANY CASH for a down payment. 20% at least.I am really interrested in it, and money on my part is not an issue, but at the same time, I don't want to lay out alot of cash, that I could just as easy invest in the S&P 500 as I have done for many years, watch is grow as it has time and again for the last 40 years( ups and downs ).