I have a deal I am currently looking at in Chesapeake Virginia, and I would love your thoughts on this:12 units 1bed/1bath apartment built in 1912 (renovated in 2018). 9536 SF, the asking price is $995,000 at 8.07% cap rate with a NOI of $80,106.

I’m currently reading The Millionaire Real Estate Investor, and have the following books to read: The Book on Rental Property Investing by Brandon Turner and Section 8 Bible.

Here is her current situation, if you can help me understand a bit more. - both husband and her have w2s, she would quit her job to focus on RE full time. - they have 3 local and 3 out of state long term rentals.- the 3 local need a lot of work, she has been cutting rent due to not having updated flooring, appliances, etc.

Right now we're using the profits we currently are receiving from this rental to build our emergency fund for it.

I will be inheriting a 3 unit property in Wheat Ridge that I current live in the main house.

There are two classifications as alluded earlier one is the property itself (used by appraisers) and one on the neighborhood.Mostly people here refer to the neighborhood.I’ve always looked at medium household income to hedge the neighborhood.

The seller is seller financing me the property with a balloon in 3 years if it appraises for the current purchase price in 3 years.

The agent recommended I talk with my current agency and get the renewal adjusted to reflect the property was occupied.I took the advice and reach out to Goosehead (my current agency).

It currently breaks even, but I'm hopeful the cash flow will improve over time!

We’re currently involved in a civil lawsuit against them... seriously wouldn’t recommend Crestcore to our worst enemy.