@Courtland StansberryCash for keys.....budget $2000 to pay the tenant to leave within 7-10 days.

As private, non investor buyers begin to pour into court house sales as they also can find no inventory, we are now feeling the rope around our necks becoming tighter and tighter as to what we need to do next to be sustainable.

Got a solid deal on the unit ($3k less than appraised), and budgeting about $5k for cosmetic refreshes.Today I got the HOA "records" and I was taken aback by what I saw.

You set a budget for rent at $800 so set a budget for everything else.

Some budgets they have to start out in small suburban areas, then 1031 into strong suburban, and eventually in urban core.

There are always more things you will want to do when renovating a house, but have to stay on budget.

While doing this, you should come up with a monthly budget that will both allow you to pay down debt and save money.

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No active leaks noted yet but they may be a concern. there is an old inground pool that is a liablity but I would plan to rent a jackhammer, push the smashed concrete in, and fill the rest with dirt and throw some seed over the top.Broker did not have access to environmentals or appraisals because the bank bought the property back before foreclosure. broker seems to imply that the concerns are deffered maintenance and estimating capital requirements for roof and windows. broker also implies that seller will not accept less than $800k.cash flow is currently negative due to being poorly managed IMO. the budget includes items like $1,800 for telephone when a phone cost 25-30 per month. the bigger kicker is there is an option to either rent with no utilities included (at rental rates quoted above) or to pay an extra $100 for water and electric included (units have central HVAC included in electric).about 40 units have opted into this program giving a budgeted utility rebill income of around $4,000, the problem is that budgeted electric is over $4,000 and water is just over $4,000, and not only that but in September the electric bill was more than $8,000.

Looking into doing this myself, another thing to watch out for are condo associations that are poorly managed, if they don't budget enough for necessary maintenance you could be stuck paying extra dues to cover the costs.