I was excited and dropped what I was doing to go look at the property, and it was great deal for my area.

The ceiling has a section that is about 3 ft x 3 ft that is sinking, soft and generally you can see that there has been water damage.

All appliances that got hit with salt water replaced, as in stove hit water heater ect.

So if you can document that 6 units are rented and have been performing for a long period of time then you count the income.650 X6 = 3,900 X 12 = 46,800 gross income.If tenants pay all utilities meaning the trash, water and sewer, gas , and electric, etc. then use 50%46,800 divided by 2 = 23,400 so at a 10 cap would be 234,000 sales price.

Water and electricity will be paid by the tenant.

Since there are only two, with that approach you drop the biggest income and see if the other qualifies alone.

When ever I got an acct in a great hood use both neighbors on each as a place to drop in quick fliers.

I also had incidence of a stubborn roof leak and the fitting that hooks up to the city water underground cracked and water was flooding around the sidewalk!

has anyone noticed when they open the door to see the house for the first time, if its a 'good' house, it is totally clean, the electricity and water are both on.It's also funny when they say "houses in this area sell in the 140's",,I guess the size doesn't matter to them,, it is good entertainment, but thats what it is.If I started buying houses to keep others from getting them, I would probable be bankrupt in a short period of time, thats how you get killed in this business

We hit one snag so far, when we turned on the water we discovered water pouring into the garage from the bathroom above.