That's when I found out that the town this property was located in considered it to be of historic value and would only permit for a much more costly (but no more functional) windows, doors, and brick restoration.

Because of the high utility costs and abuse, below average rent and an older building with some definite functional obsolescence, this is why we hesitate to move forward.

Things are starting to even out again.Sub $300K is not easy, but it is possible depending on what you want to buy....but that is also where the renters are, so buying in a decent area with good schools as low as you can get is normally a good strategy.Cash flow is always a function of what you put down. 

Probably can not even function at all.And that sewage issue, probably every time they take a **it they get an overwhelming fear that the toilet will not flush/. 

@Julie McCoy I think the answer to your amortization question is yes and no.Some people will use the NPV function on their financial calculator when doing their numbers and deciding on a bid.For the people we trade loans with, I've only seen yield being used but I'm not privy to how their financial models actually work.

You could possibly get a huge discount for looking here first.The reason I recommend CL is because mattresses and boxsprings for this purpose don't have to be functional, only to convey the look, right?

If you can't do it yourself, having someone within driving distance to receive packages, assemble, get the wifi set up, label remotes or light switches, make the kitchen functional, change out your door locks or put cameras up, etc, as well as the decorating and making the place comfortable and appealing for your guests is a must.

I am curious if anyone uses a web-based software (possibly an app) that can do the some (or preferably all) of the following:Accept mobile paymentsAllow tenants to submit non-critical maintenance requests Allow me to manage certain maintenance functions (ie. state mandated lead paint, furnace maintenance, etc)Lease management, especially if it can set reminders to send out renewals. 

@Josh Yame the rent for the garage 1/1 ADU will often be a bit lower than a comparably-sized 1/1 apartment--but that's partly because apartments often offer additional amenities (like a pool, a gym, etc.)....and the house will be lower rent than a comparably sized house without an ADU (because tenants renting a house would rather have the property to themselves rather than have to share the property with someone living in the garage ADU)....in a lot of ways, a house with a garage ADU is similar to a duplex--in terms of functionality, rents, tenant pool, etc.  ...So, if the garage is 1/1 and the house is 3/2, I'd try to comp the rents to a duplexes with one 1/1 unit and one 3/2 unit--that will get you in the ballpark.Regardless of the type of property, I like to be very conservative with my numbers; I'll often assume 15-20% lower rent than the market, and I factor in lots of vacancy.

Once you have a short list, get an account with each one and run them through the wringer to see how they really function.