If you pick up trash and sweep that means you're not paying a more skilled person to do so and that allows them to be better utilized or go home and be off the payroll.I agree that if you are not skilled (or young enough to begin acquiring skills) to stay out of the way.

I usually work out a moratorium on payments while I fix it up, so I am only in it for materials and labor.

If you are going though with keeping it, I would absolutely take a few contractors through.Just a quick note, 100 per running foot to replace foundation on a wholesale market. roofing 200 per square to tear off and put back on. labor and materials.

Pat L. brought that up in his post.Loans are much better utilized in a C-corporation.

My day job is in selling construction materials, brick, block, stone, landscape, etc. for new construction and remodels.Owned a duplex years ago but being newly married at the time and then kids on the way, sold it due to lack of time and the cash flow was not good enough for property management.

Utilities are said to be 400/mo paid by landlord, taxes 1300, insurance 500. both sides 3 bdrms and one bath.

I had a guy bail & leave the wife & disabled child without any financial help.We gave them the month to leave as the home was too big & utilities too high for her to manage.

They all use the same material - it is just a matter of your schedule.

Here are the numbers:20K in repairsTaxes are $2400INS is $2000Separate utilities except for water and trash: ~$100/month Will manage myself.Finance is 20% down at 4.75%, 15 years.Thinking to submit an offer for 85K.

Contract states that due diligence does not begin until I have given my written notification that I have received all requested documents.During due diligence I request the following documentation:P&L Statements.Seller's Tax Returns and Bank DepositsLease agreements and rental receiptsCopy of current management contract and payroll registerCopy of insurance policyCopies of service and advertisement contracts (Trash, Water, Util, etc)Confirm any existing liens.WHAT IS THE BEST WAY TO GET TAX RATES, SINCE THEY MAY CHANGE AFTER THE SALE?