i feel like break even would be fine for me.i'm about to close on a condo for 157k. it's a 2BR 2 BA. multiple comps in the past have come out 180k, but those units were in really good condition. i got it appraised and it came out at 165k. i have a friend who says he can help me do most of the rehab for 5k so i just assumed it will cost closer to 10k.so i'm assuming after making repairs of 10k on top of me 157k, my net profits would be 180k-167k = 13k.I thought that was a good deal but you guys are suggesting I need 25% return but that would mean I need 40-45k profit.So I make my 13k sweat equity, and I saw a studio apt in the building go for 750/mo so I figured that if my mortgage payments are 750/mo and my assessments are 500/mo, I would need 1250/mo to break even.If I get a roommate and charge 600-700/mo I would only have to come up with 550-650/mo which is already cheaper than the 800-900/mo I was previously paying.

Today I went and looked at a Hud home the weird thing is its a four bed room home split into three units It looks like a regular house but has two doors on the right side there is also a small building on the property I talked to the realtor thats in charge of the house and he said that its a fourplex :shock: and that he had never seen anything like it before.

Some brokers charge nothing but offer no support staff.

GET THIS: One of the charges was for $165 to remove vines from a sidewalk. 2 - Less important - they have been terrible at finding tenants for my properties.

Especially cause they don't HAVE to share their RE info for free...they could be charging us a monthly fee and we would pay it cause it is WAY less than coaching!!!!!

They made those fees in addition to the fees they charge the lenders to buy the lead.

Would this be the norm and if so, what would an appraiser and contractor customarily charge for such as service?

Would this be the norm and if so, what would an appraiser and contractor customarily charge for such as service?

I'm renting my dad's place and they (HOA) are trying to charge me double maintenance fees. 

If you're looking to rehab, etc. then an equity line is cheaper than any hard money loans you'll find.