By doing a variety of marketing methods consistently and persistently I have found great success.

Whenever I compare the REALTOR® opinion to a certified residential appraiser's opinion the REALTOR® is consistantly higher.With that being said I would encourage you to see if you can get an opinion from an appriaser or 2.

What does a "closing cost" consist of?

Of course as a result of this, my portfolio consists of a mere 2 units that were purchased at retail and while I have been lucky with appreciation, I would be ashamed to show the marginal cash flow numbers on this forum.

Interestingly, they are all over the map on some stuff and very consistent on other.Thanks for your input.

In particular I need a PM solution that will let us manage the portfolio if we want to use in-house staff (PM division) or if we want to work with an external firm that is open to suggestions for software platforms.

Originally posted by "Rehab702":Typical formula: (ARV – Repairs) x 70% = Maximum Price.Better yet: (ARV * 70%) - Repairs = Maximum Price.That will be (1) more conservative and (2) more consistent since you will be dealing with actual repair costs (the first formula only subtracts 70% of repairs and would thus have you offer more than you should on homes needing a lot of work).For example, imagine a house with ARV of $100K that needs $50k in repairs (an extreme example, but it makes the point):If you do it the first way, you get (100k - 50k) * 0.7 = 35k max offer That would be 85k you would have in a house (after repairs) that sells for 100k ARV (or you are paying 85% of ARV).

And my work load on that consists of calling the resident manager about once a month.

I immediately responded and that is the result in which you read.I think it's sending out offers before you see the property by the sounds of it, and the way he makes it out you are consistently sending offers daily then once you get some type of feedback you go from there.I am looking to buy a fax machine (or find one on criagslist, once I get off work) today, and get in contact with a realtor I met at my 2 day seminar last week who said he wants to become an investor while being a realtor and wants to work with me.

Landlording will put you in the loony bin, if you consistently have bad tenants.