Walk by the property frequently and you may get lucky catch the owners or contractors there ... basically, good, old fashioned detective work, which could actually be fun and highly educational for future acquisition skills even if this one doesn't work out for you (most don't, but if you keep trying then some do). 

Rent: 900/monthUpfront expenses-20% down= 12000-repairs=25000- closing cost=5000- $450 tenant acquisition Total= $42450Monthly expenses-P&I= 218 (3.6%interest)-taxes=116-property management-115- vacancy=90-repairs-90-cap ex=45- insurance=60-pest control=30Cashflow:$136I am aiming for >$100 cashflow in good areas of the town so this fits.

I would love to continue a conversation about lease options and seller financing, since I'm in the process of gathering German and Chinese private investors to create and lead a real estate acquisitions company fund to invest into US multiplexes.

I've taken all that cashflow and built up my acquisition fund.

Gross Monthly Operating Income 1,196.00 Monthly Operating Expenses Property Management Fees Repairs and Maintenance 59.80 Real Estate Taxes 189.67 Rental Property Insurance 47.83 Homeowners/Property Association Fees Replacement Reserve - calculated using Leybovich method 95.00 Utilities - Water and Sewer 150.00 Gas - Garbage Electric Pest Control Accounting and Legal Monthly Operating Expenses 542.30 Net Operating Income (NOI) Total Annual Operating Income 14,352.00 Total Annual Operating Expense 6,507.60 Annual Net Operating Income 7,844.40 Capitalization Rate and Valuation Desired Capitalization Rate 8.00% Property Valuation (Offer Price) 98,055.00 Actual Purchase Price 87,500.00 Actual Capitalization Rate 8.97% Square Feet 1325 $/sq ft 66.04 Loan Information Down Payment 21,875.00 Loan Amount 65,625.00 Acquisition Costs and Loan Fees and initial improvements 4,300.00 Length of Mortgage (years) 30 Annual Interest Rate 4.000% Renovation costs Initial Investment 26,175.00 Monthly Mortgage Payment (PI) 313.30 Monthly Interest 217.16 Monthly Principal 96.14 Total Annual Debt Service 3,759.65 Cash Flow and ROI Total Monthly Cash Flow (before taxes) 340.40 Total Annual Cash Flow (before taxes) 4,084.75 Cash on Cash Return (ROI) 15.61% ROI including equity Yr 1 20.01%

The tenants were extremely challenging when I acquired it, and after several years, we managed to increase the quality of the tenant base somewhat, but not as much as we'd hoped- the building's reputation preceded us, unfortunately.Then things changed quite suddenly and I think this story is relevant to your potential acquisition.

I feel some areas that people could benefit from learning would be topics like these; Building a Brand Dealing with Contractors Making the most of Materials Labor costs in the local market Acquisitions Running comps Using a proformaMarketing your business Designing your flip Working with cities Using credible Real Estate Agents Real Estate Attorneys and how to utilize them TurnKey Rentals Title companies Using social media If this was taught from local industry leaders what would it be worth?

For example, I helped Account Closed as his agent and property manager with his recent acquisition of an 8-unit apartment complex in Tampa.

@Matt Hines,You should be able find someone in each organization who handles acquisitions at each of the franchisors.

I have a great handle on the acquisition costs (CC, DP, taxes, Etc) but I am curious what amounts people prefer to keep in the unforeseen repairs account.