We can't all expect to be 5 star every time, and unless you have a true luxury space, you probably shouldn't expect to be 5 star at all.

We are filling our first new tenant from 325 to 475 and we expect every new tenant to be higher than hers

I paid 27k cash for it back then tax's prop 13 300.00 a year so about 35k is invested.. have it on the market for 3 million had an offer at 2.4  that did not go.. but expecting to sell between that price at 3 million.. 2.

I would expect NC closing costs for a median priced property to run less than $2000 for the attorney fee, doc preparation fees, title search, title insurance, prorated property taxes and recording fees. 

I would not consider doing a deal if I only expected to return 12% to my investors.

There was some mold I noticed when I visited and looked at their unit where the leak was coming in- I fully expected to get a bill for drywall repair, maybe a section of wet carpet, some painting, etc., but not complete mold remediation. 

@Ryan C.In the Bronx most tenants expect to pay a Broker Fee.

This will probably only be for the first year students who want to live off campus.There is probably a niche market for students who come to town at the beginning of summer (either for school or work), but that would generally depend if it was a college town or a major city that has work opportunities for college kids.Also, if it is a major/competitive university you can expect some very last minute arrivals.

@Nicholas LohrIt should be communicated what the end game of the LLC will be.It is normally not feasible for everyone in the LLC to expect to hold their interest until they die. 

Unrealistic estimates and expectations