Also add in your lease they they pay for any plumbing problems caused by negligence such as putting anything other than toilet paper down there.

. $2.5k for bathroom, $4k for interior and exterior paint, $1k in drywall, $1k electrical supplies and fixtures, $500 in plumbing, $750 in landscape.

Some between 10k-20k in my opinion b/c these have been sitting empty for years and thieves have stripped them of any & all components they can re-sell.Ex) Furnace, duct work, copper plumbing, re-shingling roof, floors repaired & refinished, possibly new electrical if the inspectors are watching you closely (which they WILL BE from the website's verbage), mold and/or asbestos remediation, etc., etc.Then throw in the cosmetics.

You may end up with a gut rehab, electrical, plumbing, ADA standards, parking can be an issue and might need two restrooms.Small bungalows can be difficult to rehab to commercial standards, older homes will likely have asbestos and lead paint issues.If it's really cheap, the seller is probably aware of the potential and the issues, selling for residential purposes.

I am 28 and I'm currently in the plumbing trade working out of Madison, WI.

Plumbing?

All the city had to go by were general vague wordings like "STOP ALL WORK WITHOUT PERMITS UNPERMITED PLUMBING ELECTRICAL.

@Brittney Lynn it is normal to be nervous, don't let analysis paralysis set in, but take a hard look at the numbers and the feedback I am sure you will get on the forum.A few things I saw:Vacancy at 3% might be right for NYC, but you need to make sure you have a good reserve fund counting on $1000+/mo rents in case it takes you two months to fill a vacancy if you end up evicting someone, or they leave mid-month and it takes a few weeks to turn the property.Depending on the age of the property I would definitely increase the maintenance to ~7% at a minimum as things will come up and unless it has been recently rehabbed I would expect plumbing, etc issues to be common plus any costs to prep the property upon a turn(unless you are counting on CapEx for that).The one thing I didn't see you mention was Property Management.

I've never had issues with the electrical system--generally, you can tell whether it must be replaced by looking at the electrical boxes--but I've had plenty of issues with plumbing, which led me to allocate $1000 for plumbing repairs straight out of the gate, in case there are burst pipes or cracked valves or the like.

Our main product is flooring, but we also carry lighting, faucets, door knobs, plumbing (Toilets & Sinks) and other opportunity buys as we find them.