I'd like to get a second mortgage on said 4-plex so that 1st and 2nd add up to 75-80% LTV, but there seems to be a ceiling of around 65%, 70% tops. 

It also had a hoosier.One thing that is of concern to me is handyman updates that are less than code standards, like 6 foot ceiling and other functional obsolescence, like walk through bedrooms, walk through bathrooms, all the bedrooms on the second floor and the only bath on the first floor. 

I am concerned that the HOA management company is dragging their feet on a ceiling leak since October, when we first started calling. 

Recently, the owner of the unit below us flagged some water damage on his ceiling and his neighbor also flagged water damage on his ceiling.  

New roof, new ceiling, upgraded appliances, spray foam insulation in the crawlspace, added a heater to the crawl space etc... 

Hanging a ceiling fan pays $35.

They are obviously tenant-caused, and I think you are going to be surprised at how expensive it is to match that drywall finish in the ceiling next to the stairs.

A 5/5 is we are getting the first 5 years at 4.65% fixed and then years 6 to 10 the rate has a ceiling it cannot go above of 6% fixed.

@Tim Soto - Congratulations on your new acquisition.Clearly, you demonstrated a methodical approach to this purchase, in that you knew the neighborhood and its potential, stayed calm when another buyer attempted to purchase property and failed, remained firm with your purchase ceiling, had dual funding plans and your to do list was ready to take action as the ink dried upon purchase.Thanks for taking the time to outline a step by step methodical approach to REI, without injecting emotions in the transaction.Good luck with this purchase and your future acquisitions.

Big hole in ceiling in living room exposing pipes which look as if they were leaking before.Basement- tons of mold, asbestos on pipes, some split beams evident in basement.I have the house in contract at 45-50% of ARV. $62K purchase price. $25K estimated cosmetic repairs (budgeted for likely overbudget).Rehabbers- what is your minimum criteria for taking on projects.