We should get $650/month on this property. 100 T&I + 150 for repairs(set back if not spent) leaves $400/month for debt service.

I'm renovating the entire first floor which has 2 bedrooms, brand new bathroom and brand new kitchen, the master bedroom is in the second floor and it's not bad so I'm leaving it alone.

Unkept by current Renters and will need hard refresh when they leave.

Leaving 1 space short just to comply with the 4 unit's currently rented.

However, I would rather leave my money in the stock market and hold off for a better opportunity.I'm a little out of ideas in terms of where to look for the golden investment MF property over here in the NE.

Even in a urban area, purpose built buildings have little value when the specific tenant leaves.

I'm doing everything in my power to get to the point where I can leave my job and receive all my income from REI.

With this approach it is very important to set a before rehab price that leaves room for added value.

I went and talked to the mortgage guy down at the bank to see if he had any connections and the guy was useless..If anyone has any experience with this type of acquisition feel free to leave anything you feel is important to know.

Companies will build like gang busters for 5yrs then all of sudden pick up and leave, so will the population.As Ned stated buy right with enough cushion to sustain long term.