You would need an additional $10K or so of your own cash to cover the excess of the rehab over the loan amount ($3K), the points (about $4.5K), and your holding costs (taxes, insurance, utilities, etc.

Can you do it, how to do it and or any advice or materials to study.

:crazed: I should say that I am looking for a multi-unit apartment complex (around 20-30 units).Any reading material would also be great!

That means, among the obvious things like labor and material on fixing, and marketing, commisions and legals on sales, that you can write off;Mileage driven when generating that income.

Vacancies, economic vacancy (like the "two months free" you mention), advertising, utilities when vacant, evictions, tenant damage (brand new or not, tenants can still do damage), CPA, Lawyer, maintenance, property management, etc.

However, who is currently paying the utilities?

$1310.08 Utilities/taxes?

Maybe furnace installation isn't the best thing, But i realized that I overpaid on just the materials by about double.What would you say are the most expensive costs with rentals, or property rehab?

Once I have 3 - 4 agents and PMs that look good from their materials, web site, phone conversations and e-mail, I schedule a trip to the city, where I meet each face to face.

Find out what they are renting for and what utilities are included and set your rents with the current market.