In fact, you could go new, with an extended warranty on the washing machine to hedge your bet.

I would bet this building has 15,000 square feet of hard to utilize area -- warehouse space in primary retail area, second floor area, back lot, etc.

Id bet you money this isnt going to happen and is a waste of your time.

And knowing prices in many other areas, I don't think this is unreasonable in many parts of the country.But again, it's going to differ based on several factors and getting several bids is the best bet...

They are hard on the rentals, not to mention waiting for +40 years for an investment payout on a nickel and dime bet on housing in a very poor area is not a good investment strategy.

I initially looked into the LV market for a rental that would pass the 2% rule.

Cash out refinances where the subject property was purchased within 6 months (measured from HUD-1 date to the disbursement date of the new mortgage) when no financing was obtained for the purchase are allowed under the following parameters:o The new loan amount must not be more than the actual documented amount of the borrower’s initial investment in purchasing the property, plus the financing of closing costs, prepaid fees, and points – subject to the maximum LTV/CLTV/HCLTV for cash out transactions.

Zach, I would be more concerned with the market for larger apartments than the initial start-up cost.

For Tax purposes your best bet is to start an LLC and DO NOT elect any other status.

I got tickets to the conference because I'm betting that we will get out more than the $1500 we will spend on it!