#2 - I have several contractor connections within the state including electrical, plumbing, construction, masonry and roofing.

That's awesome, a 24-unit could be a game changer for passive income.I can send you a due diligence checklist our team put together for multifamily and that might be really helpful for you (if anyone else is interested, I am happy to share with anyone who would like to see it).Here are good documents to gather / steps to complete during the due diligence process:- Appraisals- As-built construction documents (see what the build quality is and set up for electrical, HVAC, etc)- Easements- Encumbrances- Environmental reports and related correspondence- Government notices- Leases (with rent roll to verify)- Photographs - insist on looking at EVERY unit, otherwise you'll only see the ones the seller wants you to see- Previous site plans- Property surveys- Recent tax bills (can call the county to ask for an estimate on tax bills after sale)- Soil reports- Title reports, commitments, and policies- Zoning documents- Any other legal documents of significance that the seller has

You’ll want to make sure you have enough borrowing capacity to take on future projects and whether or not those “future projects,” need rental income or not for your to qualify.The reason is, because if you need “rental income,” on those future projects to qualify then that means during acquisition and rehab you will not be able to refinance so you’ll need enough rehab money and reserves to whether that storm.People who have enough income to refinance earlier might be able to do so before their rehab (assuming property is in livable condition, it can be dated just livable with working MEP’s (mechanical electrical plumbing)).

Charge electric, internet and water as a 200 plus per room and you have a little more breathing room. 

Smaller communities you can usually call and see if the water/electric are still on3. 

Its running all the duct, finishing around the duct, possibly upgrading the electric service, running individual electric to each condenser, possibly upgrading each units breaker, and running flex line from the gas connection in each apartment to where the furnace is assuming you can tie in off the stove. 

Also Garland runs their own electric company and that may make things more expensive on utilities. 

She is always intoxicated ( alcohol for what I smell ) , the condo inside stinks, she has numerous animals and it is full of roaches, food all over the place, electric cables coming out of the wall and it smells like something is putrified in there.

When we pulled the 3-yr-old electric range there were dead mice and droppings. 

If the foundation is solid, the electrical passes code, the roof has life left, the plumbing is functioning - that's the heavy (and costly) lifting.