With proper documentation you are all set up.

It'd be many thousands more to shore up the neighbors foundation and I have no idea what they spent to get the gas line ran or replace the heater.I'd say if you budget properly or "know a guy" that can take care of this for you, go for it, but I wouldn't count on a $500-$1,000 fix.

Oh, and I DO check for proper grammar. :)As my mother used to tell me - don't be so shy!

The liability paranoia is a product of gurus and attorneys scaring people to use their services, mostly, but properly run they are another hurdle to overcome.I would not be concerned with a 4 plex in my personal name with better financing, if I were going to have 20 properties, that becomes a business factor.

Meetings are usually not very transparent and sometimes they don't properly announce them either, esp with a non-professional company who has lower standards and resources to do so.

Aside from the fact that you can't do this unless you have some legal and proper arrangement with the seller, or if you actually purchase it, the small items you talked about are so minor it adds little to n value to the rehabber.

You may get more exposure posting in the proper place for it, the Deal Analysis ForumOrganize the presentation of the numbers for the property a bit and I'm sure people will jump in with evaluation/advice.

I like that you're taking the time to learn what you need to learn and to make sure you have the proper reserves before moving forward.

I was just using my own property as an example of how one would calculate the proper Cap Rate.

Many buyers/homeowners like the fact that there is someone looking to protect their home values and that there is someone willing to fight to ensure that their community is properly maintained.