The Boston area seems to have a lot of old Victorian homes divided into multiple units.

Very lengthy,  managing everything at each phase so it can move into the next phase. they say less than 50% of a project’s duration is the visible construction period on site. the essence of development typically involves pre-purchase, concept stage, purchase, town planning, working drawing and documentation, pre-construction, construction. 2.

What other takeaways do you all draw from this data?

Divide that by your purchase price and you get your CAP rate. 

Take that cash flow and divide it by your $100K down payment (plus any improvements you want to make), and that will be your very basic cash on cash return. 

Back Story:My parents have a 4 plex in California (purchased decades ago)One of tenants has stopped paying rent (stopped paying Dec 18)Unfortunately I found out their 4plex is really only permitted as a triplex but when they purchased it came as 4 units (they made no updates. it looks like the back unit had been divided by the previous owner into two units)The non paying tenant is going to sue stating he's in a unit that's not legal and wants all his rent back since 2015 (when he first moved it)Looking at all options it sounds like we're going to have to settle with him. 

I was able to find a credit union who would do a 5 year draw and 15 year repayment for 4.75% up to 70%LTV, 5.75% up to 80% LTV and 6.75% up to 90% LTV with no maximum cap on the amount as many banks that I researched seemed to have. 

Wholesaling draws me because it gives me a chance, while I’m young, to put my skills and work ethic to the test and get into the real estate world.

In the end you guys would no doubt use a lawyer to draw up the contract so all parties are protected, don’t worry about that part as it comes later.

Specifically, I plan to buy a small multifamily (2-4 units) and rehab it with cash I draw from the HELOC.