Excavation is very costly!!!  

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.

They needed a new roof and the guy quoted my friend over 4x what it should cost. 

Its time to get a bookkeeper when it is costing you.... the cost is time away from family or finding the next deal no matter what field you are in.  

Each contained historic use permits and have continually operated as 3- family buildings.  

Exceptions are when they cannot be put in the tenants' name (I have that for a few of mine, I get the bill, and the tenants pay me that amount) or if you have two units on the same meter so you don't know how much each unit uses.

It’s a mediocre but not killer deal for me to not renew lease, rehab and rent to new tenants, as I’ll make only 8% COC.

This would be my first deal I have done.

Looks like mortgage is over $4K/month on a 30 year mortgage.Purchase Price $950,000Down Payment $70,015 7.37%Mortgage Insurance 35000Closing Costs $18,000.00 4% $18,000.00Interest Rate 4.25%Term in years 25Financed Amount $914,985Payment $4,956.82Renovations/Repairs $20,000Out of Pocket Costs $108,015Monthly Assumed % Manual InputRent $6,000Property Mgmt $480 8.00%Vacancy $300 5.00%Maintenance/Repairs $180 3.00%CapEx $45 0.00% 45Insurance 50 0.00% 50Property Taxes 419.7 0.05% 419.7Rental income tax 0.0 25% 0.0Expenses Subtotal $1,475"Annual % Increase(rent + expenses)" 2.5%1% ruleGross monthly rent should be >= 1% to total purchase price0.63%GRM (Gross-Rent-Multiplier): the lower, the better13.2Cap Rate (Net operating income (annual) / total purchase price): the higher, the better5.72%Net Income After Financing (/mo.) = Net operating income - financing costs-$432years Monthly CashFlow1 -$4322 -$3183 -$2024 -$845 $386 $1637 $2918 $4229 $55710 $69511 $83612 $98113 $1,12914 $1,28115 $1,43716 $1,59717 $1,76118 $1,92919 $2,10120 $2,278 

@James McGovernno, some are very goodi go to a mini mastermind with about 10 other peer investors and we share information and updates and deals we're working oni also go to some larger ones that are primarily networking