Each unit is 2 bedroom/1 bathroom.

Also, the tile in the kitchen is 14 inch, but the tile in the bathrooms and bdrs is 18 inch.

They say;1) They have the inspection report from the previous buyer who backed out during the inspection period and it shows a photo of the termite damage inside the bathroom vanity.2) After that the damage had been covered up.I say;1) I did not see this inspection report.

Tenants pay electric and gas.loan would be about $250/mo 45k @ 5.75, 30yr, 3k closing6 unit:4 2 BR $650/ea2 studio $450/ea2010 figures3500 rents5768 taxes1500 ins2244 heat3600 electric1500 water1218 total monthlyAll brick 3 story, no landscaping, new furnance and half roof done in '05, all kitchen and bathroom remodeled, new windows, flooring, entry doors, carpets, coin laundry, stoves, refs, and smokes done in '06appriased 165k in '07, asking price 172k rents include utils, looks to be turn key, fully rented, no work needed, inspection tomorrow 3/19/11, i know it has older BX wiring and asbestos wrap around the heat vents between wallsI can get a comm loan. for 6% @ 25yr, with .25 $921/moThanks for your time,Justin

It seems a privately developed one could charge a lot less than the 4-700 a month that students pay to stay in those.Iv thought about this a lot and it could be a relatively cheap building considering you would have central kitchens and bathrooms.2 to a room at 150 a month a piece.300 per room. 200 square feet per room and thats pretty good sized.Could make a lot off rent with say a 12-16 room building.2400-3200 square feet living space plus bathroom/kitchen/laundry3600-4800 a mo in rent.What you all think of something like that?

Some people are probably gonna disagree with me on this, but I use flat paint in my rentals for easy touch up (except in bathrooms).

At the beginning of a project, my project manager shoots me an email with all the finishing materials; it might look like this:- 1 Exterior Door (36" RH)- 5 Interior Doors (32" LH)- 2 Flush Mount Fan/Lights- 1 Large Fan/Light w/Downrod- 2 Basic Fan/Lights- 8 Privacy Locks, 7 Passage Locks- 4 Bathroom Sinks (19"), 1 Kitchen Sink- 4 Bath Faucets, 1 Kitchen Faucet- Set of Appliances (w/Gas Range)- Etc...I'll bring up my spreadsheet, put a quantity next to each item, fax it to my guy at HD straight from my computer, and he'll generally call me the next day with a bid price generally about 14-16% off retail).

It has a 3 yr old roof, windows and 3 yr old cabinets.What am i doing:Painting interiorChanging doors to 6 panel from flatNew carpetNew vinylNew light fixtures throughoutChanging elec panel so I can install a new heat pumpAdding new counters( not sur laminate or stone, probably laminatr)The bathroom is my expense- new tin surround, new vinyl, new toilet, new vanity and fixtures.I have line itemed everything from HD and Lowes, Sherwin Williams.The main thing is who was selling the house: it was not listed for sale, it was not on MLS, the city housing authority has gotten stuck with a ton of houses and they want to get rid of them.I think I have a heck of a deal.I will keep you posted.

Cost2. small fire in the hall bath. Room

Buyers know that in this market they can get 2 bathrooms for not too much more than 1 bathroom, and that second bathroom is going be to considered priceless to any buyer who is not single and living alone -- and especially to families with kids.Just something to think about.