$50 – application fee$525 – annual administration fee ($90k-125K)$95 – transaction fee$30 – wire feeI plan on funding 1-2 flip projects at a time (I'll be hands off other than visiting property before purchase).

Also empty nesters are migrating back into the city for low maintenance living.

It's a bit more then I wanted to bite off at this point so was discouraged from pursuing it further.My conservative estimates of a $775 rent would still cash flow about $470 a month and return me about 12% annually on my money.

But in reality you would subtract maintenance, vacancy and management from that rental income.

This is probably too short of notice, but Pine Financial (in Denver) is having their annual round table meeting tonight at 6pm in Englewood.

So, 7% Cap isn't bad, especially for multifamily.1998 is still relatively new, so you shouldn't have too many capital expenses and too many maintenance items.

Estimated Income and Expense:Rental Income:1st Floor 2 beds with finished basement and extended kitchen 1,300.002nd Floor 2 beds 1,100.001 Car Garage 125.00 Monthly Income $ 2,525.00 Yearly Income: $ 30,300.00 Yearly Expenses: Real Estate Taxes $ 8, 187.00 (these taxes can and should be appealed for a lower Assessment an estimated lower assessment should be about 300,000.00 which would reduce the annual taxes to $ 6,768.00.)Homeowners Insurance 1,200.00 TOTAL YEARLY EXPENSES: $ 9,387.00The water and sewer will have to be divided between the 2 apartments, the gas and electric are already separated.

When figuring my cap I allow 20% for vacancy and maintenance and also PITI.

He has also done most of the maintenance on it.At 50 he realized he has little in the way of retirement & needs rental income to ensure he can in fact retire & get through the winter layoffs.

So I would really like to focus in on how to not get stuck in a "neighborhood" (read: subdivision) that sinks due to builder defects or poor neighborhood maintenance.