This deals is a very good deal for Houston right now using the MLS, IF your rehab is only 4-8K (the photos on MLS did not show the roof, a/c unit, foundation, or water heater) so that is the big question.Rents in that subdivision in the last 12 month for 3/2/2 are $1120 (4 days on market) to $1300 (18 days on market) so you should have no problem on the rental end.PM me and I can refer you to a property management company here that are investors themselves and have maintenance personnel on staff.I hope this helps.

New roofs, paint, carpet, counters, cabinets, etcRent: $40,800 yearly ($3400/month)Expenses and Vacancy: $20,000 (using information from seller)Mortgage Payment: $9,224Pretax Cash Flow: $11,576Cash ROI: 16%Cash/Door/Month: $188Any comments would be appreciated!

Anything that is decent, multi million downtown buildings, sfr , commercial.Pretty much anythjng with a roof and plumbing.They believe in the city and are holding for centuries.

I am thinking things like installing flooring, putting up cabinets, running new water lines, even roof repair.

Hey guys (and gals) I would love your input on this apartment complex I'm looking at.It might possibly need a new roof in the next couple of years.Here is the data:Gross actual rent: $250,864All expenses (not interest or depreciation) was $134,172The owner is required to pay the water bill which was a nice: $29,343Taxes were also a nice: $23,520.If I assume debt of $1.1 mm at 5% for a 20-year amortization I get $87,120 in debt service.So this is my math:Gross actual rent: $250,864All expenses (not interest or depreciation) was $134,172Debt Service: $87,120Net Cash Flow: $29,572Debt Service Coverage would be 1.34

Bad roof, some of the walls missing, no drywall whatsoever, knob and tube wiring, no plumbing to speak of, etc.

@Eric LiuThere is a makeshift chimney coming from the roof so that's how I assume he is keeping warm, but I haven't been inside to be sure.

Basically, the entire room needs redone (new: framing, wiring, roof, flooring, door, windows, insulation...) to make it functional again.

If you have decent properties in the 30k-50k range, and rents are $800 and up, I would put the money in putting in a new roof, updating the plumbing, and putting on some paint, and have a nice cash flowing property you can own free and clear in 5-6 years.

It would bug the **** outa me to replace a roof 10k on a 25-45k property...