So cap rate purchase is generally low and you are hoping for increased rent growth to further yields unless you built the complex from the ground up to own then you might have a 10 cap rate to cost versus buying in the market for a 6 for class A apartments  with little operating expenses.Watch out for (newly renovated) properties where some syndicators and sponsors do rehabs on the cheap but the expensive items are fixing to go out after you own it reducing yields heavily in future years.Newly renovated to these sellers might mean carpet,paint, some lighting fixtures.

The exterior paint is fairly rough currently and peeling off.  

Basically, what we were told was that the only things that judges usually look at and rip the veil off an LLP and ignore it is when you use it to hide personal expenses, like nice cars, big nice vacations, etc.  

They are not worth the paper they are written on and this guy should be arrested for ripping people off.

I paid someone to fix the roof ($250) and did the drywall and painting fix myself.

We stayed in touch with the owners over the months, and after meeting up a couple times and some negotiations we were under contract.I'll keep it simple to the details but let me know if you have any questions.4 bed - 3 bath - 3 car garage - SFHPurchase price: $160K1st Loan: $112,0002nd Loan carried by sellers: $49,000Down payment: $2,500Rehab Cost: $13,000Real Estate fees and closing cost: $8,900Basic list of repairs: carpet, vinyl tile floors, vinyl plank flooring, faucets, toilets, light fixtures, thermostat, interior paint, appliances, gutters, backsplashes, resurfaced counter in kitchen with an epoxy countertop, re-stained all cabinets throughout the house, added pulls to all cabinets, new kitchen sink & faucet - finished it off with some light staging for photos and to help it sell quicker!

There are four of us working on the project and often two people will buy the hinges we need, or the trim paint...or no one buys it because we thought someone else was.Does anyone know of a good app that would allow us to communicate with each other, regarding current progress, things that still need to be completed or items needed to complete a task?

Be especially careful charging a tenant for the entire cost of carpet when the carpets are like 10 years old Picture or pin holes in walls, as long as not excessive Painting the exterior of the home Pressure washing unless there are oil stains from their auto Routine maintenance 

Operating expenses - lawn, snow, repairs/replace for bulbs, detectors, window/screen, paint...etc3.

The property will need interior paint and a good cleaning.