There's a chance you may have only broken even.

If it appraised low due to the condition, you may need to put in double what you are thinking based on code upgrades, electrical updates, etc. 2.

I upgraded everything; cabinets, counter-tops, appliances, toilet, vanity etc.On the exterior the property was exposed an all sides and did not have any form of privacy or backyard.

Just like real estate, buy low, fix what is broken, and have instant equity.

Who will pay cosmetic upgrades/maintenance fees?

I would put a security system in I just had a property broken into in a good neighborhood and had the copper taken.

Hi-I was reading in the forum rules and the upgrade page about forum signatures.Is it only in the pro account that we can have a signature that has our email and website?

They break things and I charge for broken stuff as we are allowed per law.

One of my tenants called that there was a broken window at the property and wanted me to fix it.

We have done alot of deals the way Joel outlines, however we see a difference in what we do- light rehab (we refer to it as CAPX, which is the items HUD will require us to upgrade and repair before we can stablize and refinance the asset)- and Rehab is what I think Joel is referring to- total rehab from the studs up (which we would only do in a tax credit asset or 501(3)C bond deal for a nonprofit asset -it is very costly & time consuming).We have found that when you start rehabbing multifamily one thing is always true- always expect to spend more than you budget.