The current labor market has made any decent vendors the most important asset an investor has. 

From someone on the labor side of things, that's what your situation looks like to me.

Purchase price: $77,500 BRRRR I just closed on my cash out refinance for this property and it was a perfect BRRRR with NO REHAB...and, it was sitting on the MLS for 78 days.22061 Shakespeare Eastpointe MIFelt this was a good experience to share.Paid $77,500kRehab: $0 (already had a paying tenant and house was "good enough")Appraisal Value: $102k (75% cashed out = $76,500)"Wait, joe you left $1k plus closing costs in the deal""Na, it cash flowed $700+ a month after expenses for 6 months, I got all my money back"1st Best Part...no rehab2nd Best part...this thing sat on the MLS for 78 days***Note:I didn't go into this deal "NEEDING it to be a perfect BRRRR".

@Joe VilleneuveThank you for the reply1- Yes I will be renting the upper unit for $1200.

The weekend past (this was the Labor Day weekend) and no call.

They are labor intensive, just like a motel, but without the laundry details.

Originally posted by BryanA:ya, i was joking...i'm pretty sure bank of america knows they suck....their business isn't based on customer serviceYep their job is to suck money from the average hard working joe out there.

Secondly I would not convert until I read the book "keep it" by Joe Luby. 

@Joe Lee, if you have created the LLC and transferred ownership from yourself personally into the name of the LLC you should have the tenants sign a new contract. 

@Joe Sherman Locally I prefer multi-family homes with 2-4 units.