I am planning on using 6x6 wood beams that are graded for ground contact.

Comments are welcome:Purchase Price: $325,000Units: 29Mix: all one bed/bath (one efficiency)Structure: 2 two-story buildingsCurrent rent: $500Vacancy: 45% (16 vacant units)GOI: $95kNOI: $37k (seller's info)My estimated repairs:Interior (vacant units): $80,000 - mostly cosmetic with new appliances and window A/C units.Exterior: TBD (new balcony railing $8000 + updated electrical (units have gas stove hookups currently), siding repair, and paint, possible dry wood termite treatment)Potential 1 year outlook:Vacancy: 11% (conservative)Rent: $550 ($450 for efficiency)NOI: $169kGOI: $59.7kThe only two pending snags for me on this deal are: cost for termite treatment and cost for electrical upgrading.

They have allowed their dog to urinate and vomit all over my wood floors and they are not too happy that I am objecting to that.

Are they wood or metal?

I've seen properties with tabs running of more than $1,000/day for rotted wood that hasn't been fixed.

I've got some family down in your neck of the woods (Capistrano Beach).

. :) In my neck of the woods, you're looking at 0.3-0.33% of monthly rent for a property in a prime area with A Class tenants.

Lots of sage advice there :) As always, I'll harp the "don't just look in your home county" tune - if your market's dried up temporarily, don't be afraid to look at other cities, states, countries or continents - you'll have to do DD on the providers more than on the actual properties in most cases, but it's just a different skill set - and affordability, as well as cashflow, may just amaze you if you set your sights a bit further than "around the block".

Hi Jeff,I see you are in Alpharetta in Georgia which is my neck of the woods.

My argument is that the tile in the bathroom and the granite in the kitchen as well as the wood floors are really cold and make the house feel drafty at 63.