I was in Butte looking at some low end properties to rehab. 6 plex for $100k?

The inventory is very low for multi-family in my market but rents are good and in high demand with a quality, stable job base here in our rural community.I have an opportunity to purchase a multi-family property from a gentleman who wants out of the business.  

Given the vague post, it's really hard to say.While I do work Riverside County and currently belong to the Estate Planning Counsel, I don't go out of my way to do business in the Palm Springs area because of the high price volatility during low economic times.

Income and Costs (all numbers are annual)Nominal rent - 43.6kActual rent - 37.3k (14.5% vacancy.  33% turnover rate)Management - 4.5k (10.6% - could bring down with a PM switch)Maintenance - 5.0k (11.6% - ok, older building and a fair amount of tenant turnover)CapEx - 2.4k (5.4% - mostly plumbing costs: is that a worry?)

You are not going to purchase turnkey in the 50's in these areas.I am a big proponent of finding good houses in the low to mid 50's.

A pretty property with low equity should be the target.MLOs don't necessarily have to be a commercial property, just multi-family in my experience. 

The low inventory situation makes it harder to compete with cash buyers.  

He needs to give out emergency numbers for maintenance and also who they now pay their rent to.

Hello all,Very envious of of the low-priced houses in all these US cities.

 (25K for the swap, $10K for the appraisal/condition inspection $10K for the   (They felt there was about $900,000 in maintenance that would need to be done over 10 years)  Roof's, elevators, blacktop etc.