At a minimum you'll need to make sure the tenants are paying ALL the utilities if you want to make any money.REI is a good thing.  

Anything else you can think of is paid for (I live rent free, all utilities covered, vehicle free, etc).  

Account Closed prior to it being highly suspect and illegal here on the West coast IE equity skimming laws I did quite a bit of pre foreclosure rent back work... the deals were almost always made the day before the sale... and it was a mad scramble to get a cashiers check to the trustee.. we would hire couriers to hand deliver.. those in denial waited until they just could not deny anymore.. if we got one two days before that was a luxury. 

I have not reached - anywhere close - to letting my business buy me a luxury car so this is how I handled and justified my new car purchase.  

Project update for our single family colonial flip in Plainville, ConnecticutThe hardwood floors in the living room, dining room, and front entry way are in the process of being refinishedthe entire upstairs is complete The shutters are up and the front door has been paintedthe kitchen has been demoed, utilities have been relocated for the sink, and the kitchen has been painted as well.tomorrow the cabinet install will start and should be completed by ThursdayOnce the cabinets are installed we are having the granite coming out to template the counters on Monday and are hoping to have them installed later next week.  

In fact based on the phone interview, application data and reference checks you should have a firm grasp on who this person is, the credit report is a factor in my decision and is utilized to validate a lot of the information already provided; if it doesn't match or is incorrect; See ya!  

Taxes- $1,312Sewer and Water- (paid by tenant) $90/moTrash- $0Heat/Utilities- (paid by tenant) $130/moHOA- $0Cap Ex and Ops (my personal minimum is $150/roof/month)- I had planned on 10%. 

Have you tried luxury open houses, like wine and cheese hours.  

It's a luxury item.  

Purchase price: 270kCurrently rented for: 3500/monthExpenses: 600/month (taxes, insurance, utilities < water for one unit)Prop Mgt: 300/month Maintainance: 120/monthCapEx/Rainy day:  230/monthVacancy: 175/ month (5%)Debt service:  1090/ month (@5% interest)Total:  2500 (approx)Cash Flow:  1000/month (200 per door)Downpayment: 70k (25%)Cash on Cash: 17%What are the downsides of such a package against a multifamily unit?