I went and looked at the other house that hadn't been lived in for about eight years, and decided that even though it was really rough, and in not the greatest neighborhood, that I would help him out and buy it.

1bd/1ba Duplex - Both units recently remodeled on the inside, a little rough on the outside.

We use roughly $150 per occupied lot/per year in our initial evaluations on properties with well/septic combos.On the septic side of things, most owners don't have them pumped as often as they should so these expenses are rarely reflected in the numbers you get from them.  

by the way I underwrite to IRR and I've come up with roughly 17% IRR in year 2 with a peak IRR in year 7 of 23%. 

We are on a tight budget and its rough going right now as we have to still completly rehab one of them  and rent it before we can refinance it.  

For example, when you hire a plumber to do rough-in, have him pull the permit, then call in his inspection for one week later, then hand him his check.  

Regulators, state, Federal, whatever, can run rough shot over the individual business owner.

School of Hard Knocks is a rough alma mater

@Jack Rengold, @Michael Carbonare and @Brian Gibbons are both masters of the niche and can teach you everything you could possibly want to know about lease options.Personally I've found that finding qualified sellers and qualified buyers is roughly the same, number-wise.

None of the other expenses are verified yet.)Net Operating Income - $56,069We've recently experienced an oil boom in West Texas which has taken a huge hit, weakening rents in the area, because several oil firms have laid off many of their workers while oil is at a current low price per barrel, so the rents which have been collected may not remain as high as they were in 2014.My primary concern is that the expense ratio seems unrealistic to me, I've been accustomed to considering 50-60% as normal for expense ratios in my local area, this complex claims to have a roughly 30% expense ratio.