The house needs about 7000 worth of repairs.

The complexes are listed below with descriptions.Address is: Houston Texas 77021 Repairs 55k, we have a contractor that can get this done for you if needed Sales Price: 240k ARV: 350k Downpayment for Owner Financing: 90k Mo Notes: $1550-1600 mo This is a 12 unit apt complex we just got a contract on.This unit is a 2 story with a 2 bedroom up and a 2 bedroom down.

I know that I need to be able to acurately estimate repairs, closing costs, ARV (very important), time, loan costs, etc.

For example let's say I'm purchasing a fixer-upper for $110,000 that has a repaired value of $170,000.

What I typically do is state that the tenant/buyer is responsible for the first $200 or first $500 of maintenance/repairs in any give month.

I look for a minimum of $300 mo. but I pay a property manager and am pretty tough on keeping back plenty of cash for repairs and vacancy loss.

I will add that you need to make sure you calculate vacancy loss, taxes, insurance, repairs, maintenance and seriously consider hiring a property manager.

* Automotive Services – Includes everything from auto repair facilities to retail auto shops and part supply stores

As an LLC is a tax pass-through entity, you (the owner) will receive the same tax benefits as you would if you deducted these repair/improvement expenses on your personal taxes--but, if you use the LLC, it helps legitimize the LLC, is more defendable in an audit b/c it reflects a real business process instead of tax evasion, and frankly it makes it easier and faster during tax time.How might this help in reality?

Then subtract mortgage payment, property taxes, insurance, repair fund, and vacancy loss.