He buys them broken, fixes them, and resells them.

i simply cant say enough about this unit.Second unit: Sigh of releif had clean hardwood floors.. clean kitchen..clean bedroom (windows had spiders etc but looked fine) ..living roof floor squeaked in few places when stepping on those spots..second bedroom was cleanish ..pantry had HOLE in roof with umbrella being used to contain water leakage.. overall no bad odor etcThird unit: Clean hardwood floors..cluttered kitchen (but thats not relevant to house itself) bedroom was clean ..bathroom had hole in floor near bathtub and when stepped on it moved downwards and seemed like cant withstand too much weight.. two broken windows but still intact.. had similar hole in one room being used as storage.Basement was cold and seemed to have moist air.. yellow glue like stuff used to seal around windows and pipes.. very cluttered.Most of stairs in house squeaked and some felt loose.Conclusion:Noway im paying +100k for this i wouldnt even consider this 3 unit but 2 as one of unit was not liveable at all !!!

Yes we did occasionally have large parties but we always checked with the neighbors first, and even had them over to a couple of the shindigs, no cops were ever called and other than a few broken shot glasses there was never any damage that couldn't be cleaned up.

I could continue making a good (maybe great) monthly income...or I can flip it...and put my seed money AND my profits...into another asset...one thats "broken" and needs fixing.For me the question is...do I settle for easy renal income of $30k per month with a million dollars tied up in equity?...

Hi,I just started investing in real estate in the Broken arrow and Coweta, OK area this past year.

The term i have become all to familiar with is "broken condo".

If a $500 appliance breaks, you're out $75-$100 for the house call and they either fix or replace the broken appliance.

No missing flooring, no leaking roofs, no broken window panes.  

I am leaning towards a broken sump pump or busted plumbing for the water, but it is impossible to tell because basement access has been roped off due to the bottom couple of stairs falling away.  

The expenses are broken down based on the expense entries from the IRS Schedule E, assuming you are in the United States.