It is just a side-bar of what I already do, but with an extra 32K or so in my checking account.

Between hidden framing issues, hidden electrical/plumbing issues, code compliance issues (smoke detectors, firewalls, etc), nice-to-haves (landscaping, etc), it's very easy to go 10% over a hard bid from a contractor.In the future, I'd recommend that if you budget is $160K, you try to negotiate a hard bid closer to $130K, and then -- as Rick suggested -- have a secret contingency budget of $30K.

The far end unit is rented by a billiard hall/bar that has a bad reputation.

The construction office already fined his dad $2000 for the code violation.

Some pointers for you: The "Learn" link across the top navigation bar has lots of great info, and so do BP members!

This is a great example of why investors really need to know the tax code!

Well have, as a sponsor and a good friend is a developer.....If you're speaking to Section 42 of the Code tax credits.

There is the issue of rents and financials being manipulated, vacancy not being true or other misleading claims, but we'll skip that side.I don't know Lakewood, but I'd first protect my money by knowing my market, the local regulatory issues and code requirements.If you are going to invest as a slumlord, find out how life is with slumlords in your area.

Welcome to BP, and here's a few tips on the site..You'll find lots of good info in the "Learn" link across the top navigation bar, and in the link at the top of this introduction forum.

As I build my business plan for my buy and hold strategy for MF units I wanted to see if there were any websites thaat provided price per unit data by zip code for recent MF salesI found city-data.com which is a tremendous site but not specific enough for multifamily units.