If you have some experience with negotiating forms and the market is really moving, find a flat fee realty company that puts your home in the MLS and you do everything else.

I will come back here and periodically give you all an update on how I'm doing each week.Here is a brief summary of what I gathered from the walk-through (applies to both units unless specified):Get paint inspected for lead on the exterior, Repurpose hardwood floors, Replace all windows then board them up, Replace back door (unit 1), Full rehab in bathroom, Fix electrical panel in kitchen, Gut all walls and floor in kitchen down to the studs (unit 2), Repair hole in bedroom ceiling (unit 2), Add appliances and countertops, Replace hot water heaters, Rewire outlets, Add air conditioning unit, Fix plumbing in kitchen and bathroom, Paint entire house inside/out, Work on Landscape in the back, clean roof and gutters, add down spouts for gutters, add gas meters, and gut and redo the small balcony off the kitchen.I would appreciate it very much if you seasoned investors will give me your input, suggestions/advice, and comments.

Flat fee listing services are becoming very popular from what I've seen.

@Mitch- I think I know the guy you mentioned in your story.I do quite a few sub 2 deals with realtors involved and tell them up front that they need to take a smaller flat fee or monthly payments.

I can't give legal advice.In my apartments we have towing notices posted by a towing company.They will come and take away for free and impound.The sign has to be in an easily seen space.We call them if we want one towed for no tag,flat tire,doesn't start,etc.You didn't get a signed affidavit from the property manager that it would be okay until the 30th.If all you have is a pass that is pretty weak.You don't even know if the pass is in the impound lot.If you made waves they might have already through the pass in the trash for the complex.

Over time, rents go up, values increase, while your expenses stay relatively flat.

But, it had wall paper and paneling which was either removed or covered with new sheetrock.

China cabs. google maple shaker cabs, they are sold flat in a box.

The indoor dryer vents are square shaped plastic boxes with a diverter panel inside.

Dawn I would say the rate is high because of this:"Bank will do the deal at 15% down and 10 year fixed 6.5%"Only 15% is being put down instead of 25 to 35% the typical bank is asking for.So they price potential of default and all the other factors with appraisals and equity spreads into the rate.For much larger down the investor on the loan will take a much lower rate if it is a premium property.Less risk-less return is almost tied to anything.You need to go back a few years at least.I like to go five to ten and see how much insurance and property taxes have risen for that property on an annual basis.If they have not risen and stayed flat or went down I find out why.Could be a mistake on the city or counties part and it's fixing to go up or could be a temporary assessment relief program etc.The point is if these sharply rise in the near future it can throw off your projected numbers.I would try to fight the property tax if comps support it and get the taxes lowered to increase your bottom line.Regardless of age if you mishandle a a property (even a new one) and get crap tenants in there your maintenance costs will be huge.I have seen the wrong tenants DESTROY and brand new looking apartment in a matter of months.They also created a bug problem for the other good paying tenants that kept their place clean.With my buildings I have it in the lease that we do unit inspections every few weeks and if they do not keep the place clean then we evict immediately.When tenants apply we find when we say this upfront it gets rid of the deadbeats wanting to live like slobs,have unauthorized pets,and have big parties that trash the place.When factoring repairs is this property local to where you live??