Mario, I don't think you have enough information to make an offer ... other than a ridiculously low ball offer.Find out about monthly maintenance expenses, property management expenses and also what comparable 1 bed/1 bath units rent for in the area along with area vacancies.Unless everyone in the neighborhood does their laundry there, the income from the laundry is vastly overstated.

Here are the details that I have thus far:1943 brick ranch (in a nice family neighborhood)3 bed/ 2 bath1020 sq ftEstimated value based on tax value is $88k - $95kOpening bid from gov't is $26,120I cannot see the inside beforehand.I looked at the register of deeds records online and see that the owner purchased the house with a USDA backed mortgage back in Dec 1999 with an $86,817 mortgage.

Okay well since that time in December I was able to get another house 2 bed 2 bath I put about $5000 into it , I purchased it for $33,000 cash and have rented it out since for $700 per month.So now all the cash is gone and since my divorce my credit is shot we had a deed in lieu down in Myrtle Beach and some credit card bills that we faught over as we went thru the divorce .

Purchase price 70,0003bed, 2.5 full/half bed. 1447sqValue110,000Rent 1050.

They party when being evicted and run these properties in war zones into the ground.The smarter investors go for properties in NICE areas that are around Atlanta (not in the war zones).The property might be listed for 55,000.Buyer pays 45,000 cash and puts in 10,000 to 15,000 for 55,000 to 60,000 total to get rent ready.These properties rent for 900 to 1,000 a month as 3 bed 2 bath.Low to zero tenant turnover and more cash flow and appreciation when the market turns.These are much better buys.

Next, pull all the sheets/pillow cases off beds even if they dont appear to be slept in and place them all in a laundry basket and inspect/fold all comforters/blankets.

JoeBased on expenses 35% of gross I come out with (757 cashflow/yr, .97 dcr and -.96 c/cMaybe a special population per bed might get better returnsPaul

i am not familiar with the waterbury market, i did look into it a few years but it's a mix of different neighborhoods; some of which are very bed.

I'm going to check out a 2 bed 1 bath mobile home tomorrow.

Also are the rooms big enough for the beds.