The basement needs at least 3k for demo, clean up, paint which would add virtually nothing to the sell price.

How about an app that gives the tenant discounts on services (dry cleaning, restaurants, banking, etc) provided by local businesses, or maybe additional services provided by landlord that would help increase their Other Income?

I want to check where my head is at after owning 6 properties and putting over 100 offers in over the past year.1,100 sq ft 3/1 house in a nice neighborhood built in 1960Purchase price: $42,000Borrow $35,000 @ 5.5% 15y$3,000 for clean up and repairs$10,000 cash investmentProformaRent $900 a month = $10,800 a yearMortgage $286 a month = $3,432 a yearTaxes $100 a month =$1,200 a yearInsurance $100 a month = $1,200 a yearI know there is unexpected vacancy costs, maintenance costs, lawyer costs etc...

Why in the heck can't you people figure actual costs and provide reasonable estimates, is it that simple percentages makes your life easier for the lazy and stupid or is it that you need rules because you can't think?

I really need some advice here.I've got a 9-unit building with a small roach problem.Now one of my clean tenants says he wants to move because the roaches are so bad - mostly caused by the gross tenants that live above and below him.I've already sprayed recently, and I'm sending the pest guy out again soon.What else can I do?

New construction is getting easier in some parts of the country, I'm not sure about yours, but the time is now to act on either a sale or JV a spec home.

The third party escrow company, either Title or Attorney, will be handling the deal which makes it easier for you and keeps the paperwork clean, in theory.

However, out-of-country seller (no debt) paid $300/month to a property manager, $100/month taxes, $205/year insurance, $350/month water, $120 month for electric/heat (laundry shed), $35/month trash (dumpster shared with 2 other MFHs), $105/month mowing, $20/month pest spraying, $50/month for cleaning of laundry room, in addition to any maintenance required.

That alone is a book to address the issues and concerns.I'd suggest you find a property that fits your skill level, could just need paint, cleaning and a couple days of a handyman.

Hi Patrick,While it's optional, some people setup separate tax IDs for their 401k to keep reporting clean and organized.