But this at least gives a more realistic Cap Ex in most cases, from a property that's CHV = ARV and for those that don't. 

I screen capped the tax record that showed there were 2 legal units and the tax use code that showed it was multifamily...and she still insisted it was an ADU.

Cody's Current Buyers Box:- Under market rents (>15%)- Basis below replacement cost, Low basis- Cap Rate > Borrowing Rate- Major MSA markets with + Jobs - 3-5 year WALT (weighted avg lease term)(Still swinging)

This includes cap ex/maintenance, Vacancy, PM, etc.Now to address the 15 year mortgage. 

So making sure, I nail it, I wanted to reach out to the community to see what data I should request to make sure I come up with my NOI  to properly calculate my CAP RATE...This to request:Income+Rent Roll +Leases  ( When under contract)+Tenant Estoppel Form (While under contract)Expenses(They sent me Profit andd Loss Statement) I asked for an expense report but they manage there on properties and Im questioning the expense report they sent.....

NOI divided by purchase price is cap rate.

If your mortgage rate is 4% and your cap rate is 5%, you have positive leverage.

.: Now people can see 1% rule is to protect you from something like this LOL, Toledo Investor asking 1% rule in 3%-4% cap rate like in CA.

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Cap ex is coming up and I'm tired of dealing with HOA, I'd like to sell and buy something else, a mobile home park, multi family, etc.