House 1 and house 2 are identical in size, bed/bath count/lot size, and area.

Maybe a new development built down the street that now causes the water to move towards this area.

Monthly Income:$3,600Monthly Expenses:$2,886Monthly Cash Flow: $713.72Pro Forma Cap Rate:7.00%NOI: $25,188Total Cash Needed: $7,200Cash on Cash ROI:$118.95%Purchase Cap Rate:7.00%PROPERTY INFORMATION4-plex  (2 bed 2 bath units)Purchase Price:$360,000.00Purchase Closing Costs:$7,200.00(2%)Down payment: $0 (VA LOAN)Loan Amount: $360,000.00Loan Fees:$0.00Amortized Over:30 yearsLoan Interest Rate:2.300%Monthly P&I:$1,385.28INCOMETotal: $3,600EXPENSESGarbage: $40.00Vacancy: $360.Maintenance: $180Cap.

Mind you, this was not the full condo just the master bed, bath and living room(baseboards, ceilings and wall.)

For multi-family landlords..do you have a preference between 1 bed/1 bath units versus 2+ that are more family friendly...particularly in downtown areas?

Happened to me twice before I learned my lesson and bit the bullet.I paid to have an older duplex split on two water meters at the street. 

Oklahoma City, just east of Lake Hefner, good area with good schools.Duplex, 3 bed 2.5 bath 1400sqft each side$275,000, traditional financing, 20% down, paying around 4.375%, maybe a little better, finalizing the loan today.Comes with long term renters paying $1100 and $1150, but this appears to be below market and hasn’t been raised in years.

We found him this off market shopping strip on a very busy street in central San Antonio.

We found him this off market shopping strip on a very busy street.

John’s passing, I grew up just up the street, I know this is a hard time and you may not be ready to think about handling the estate but I’m here if you need anything at all, my condolences, etc.”