The rest of your analysis should focus on the usual issues- local occupancy rates, mechanicals, utility expenses, taxes, building condition, etc.

I'm pretty mechanically inclined, so I do plan to do a lot of the rehab on my own, at least for the first one and see how it goes.

Christian,one other thought , when you ask for operating statements to evaluate the numbers , forget about their (or their realtors) projected income statement,  ask for an actual accounting of all income and expenses from the last 3 years, preferably the schedule from their annual 1040 tax filing , then note  some of the expenses that you would  not have, such as auto expenses , excess legal and accounting fees that you may not have if you did your own books and evictions etc.

In new construction you can write off site improvements over 15 years and special mechanical over 5 years double declining balance.  

The term "record owner" means any person owning a present or future interest in the real property, which interest is of record at the time that the notice of hearing is filed and would be affected by the foreclosure proceeding, but does not mean or include the trustee in a deed of trust or the owner or holder of a mortgage, deed of trust, judgment, mechanic's or materialman's lien, or other lien or security interest in the real property.

Binsfield handled light repairs himself for a while before but says he isn’t mechanically inclined.

There are no annual dues, any assessments (occasionally, for road repairs) are by special ballot only.Past research has suggested that anything that could possibly happen on the roads would already be covered by our individual auto and/or home owner's policies, and since we don't have any "common areas", general liability HOA coverage isn't necessary.

OneNote does auto-saving so you don't have to remember to save your information.Navigating through BP, I found myself often getting detoured to read another interesting article, and then forgetting where my original article was located.I created a real estate investing notebook in OneNote to help keep me focused and organized.

Hi bigger pockets, My name is will I have an extensive technical background in just about anything mechanical but being stuck in a dead end job has lead me here in my search for better ways to provide for my family and I look forward to learning as much as I can from every one  

Similar to a mechanic's lien.