I wouldn't buy this place as either a full cash or financed purchase.I see $825 income against the follow expenses for full cash purchase:Taxes $66.67Sewer and Water $-Trash $-Heat/Utilities $-HOA $-Cap Ex and Ops $150.00 (this is my minimum per roof)Insurance $66.67Mgmt Fee $82.50Vacancy $66.00Cashflow/month $393.17 Cashflow/year $4,718.00Cash on Cash Return 6.69% ( I like to see 15% here)------------I see $825 income against the follow expenses for finance based purchase.

I don't have the time to rehab and flip/hold (although I would enjoy the learning experience), so I'm here to become the investors go-to guy for evaluating and presenting properties.I'll be looking around for evaluation techniques, as well as estimating a wide variety of rehab repairs (roofs, baths, kitchens, floors, appliances, etc...).I would also be open to local investment clubs to meet like minded members.Thanks for your service!

That is until kids come along, or the car dies, or the roof needs to be replaced, etc... ;)Slow and steady wins the race, so don't give up!

The reason that I got it so cheap was that it needed a roof.

That meets my 15% cash on cash return AND $100+ cash flow per door per month.Expenses as I see them at $164k and $2400/month in total rent:Mortgage Rate 5.00% (this could be lower if owner occupied)Length of Mortgage in years 30Monthly Mortgage payment $660.29 Taxes $421.50Sewer and Water $108.33Trash $-Heat/Utilities $-HOA $-Cap Ex and Ops $150.00 (this is my minimum per month per roof)Insurance $116.67Mgmt Fee $240.00 (10%)Vacancy $120.00 (5%)Total Expenses $1,816.79

So, we did quite a bit of work there, besides cleaning and degreasing the kitchen literally for DAYS, we painted inside and out, replaced several expensive casement windows that had small leaks, updated most of the plumbing because it was a garish looking chrome and brass that was probably already going out of style when it was built, all new top of the line appliances, etc, etc.

Appraisal guy for bank came and wanted foundation and roof inspection.

What you want to do is what my husband and I have been doing for the past 12 years, we have been doing it this way which is the way it has worked for us:Our first home was a traditional sale FHA the house was outdated it needed a lot of work in kitchen and bathrooms plus carpet, we lived there for a few years mean while we were fixing it little by little with money out of our pockets the home cost us $117k we sold it for $220k, with that money we bought a piece of land (more like a lot) for $35k and built a house on it for $60k sold that one for $120k, we were fortunate to sale the house when price of homes here in AZ were really low we were able to by 2 houses with 120K but they were foreclosures and one needed a lot of work the other one also need some work but not as much so we lived in that one till we finished fixing both up the one that needed a lot of work (ugly one) cost us $40k and we put $20K into it we rent that one out now for $900 per month we are holding it for a few years to avoid paying a lot of taxes, the house has recently been appraised for $136K we have had the house for 2 years.The other house cost us $60K and only had to put $10k into it (we just put new roof, fixed rv gate and painted house inside and out) we sold it about a year ago and sold for $138K, we recently jumped to our next home which we live in it now we got it a year ago for $157K it was a short sale we just painted and fixed the pool and now it has been appraised for $225K.

But I was just starting a siding/roof rehab so had a dumpster so I (actually the contractor) just put it in there.

Property #1, being two buildings, would likely have some high maintenance costs--more lawn, 2 roofs, etc.