Income and Costs (all numbers are annual)Nominal rent - 43.6kActual rent - 37.3k (14.5% vacancy.  33% turnover rate)Management - 4.5k (10.6% - could bring down with a PM switch)Maintenance - 5.0k (11.6% - ok, older building and a fair amount of tenant turnover)CapEx - 2.4k (5.4% - mostly plumbing costs: is that a worry?)

You are not going to purchase turnkey in the 50's in these areas.I am a big proponent of finding good houses in the low to mid 50's.

A pretty property with low equity should be the target.MLOs don't necessarily have to be a commercial property, just multi-family in my experience. 

The low inventory situation makes it harder to compete with cash buyers.  

He needs to give out emergency numbers for maintenance and also who they now pay their rent to.

Hello all,Very envious of of the low-priced houses in all these US cities.

 (25K for the swap, $10K for the appraisal/condition inspection $10K for the   (They felt there was about $900,000 in maintenance that would need to be done over 10 years)  Roof's, elevators, blacktop etc.   

Hey Joe,I looking for a lender that will do a 12 month loan on the following:List Price $150,000.00Purchase price $115,000Rehab cost $50.000 Total Loan amount $145,000 plus to be able to roll in interest and closing cost or seller help with closing.looking at loan for $165,000 LTV a little over 65% ARV $250,000 sold comps this year 250,000LTV $162,500 at 65%but i need the money down to be as low as possible.their terms are good but the money down is a bit high.Thanks

Real estate won't be full time for me in the immediate future so I'm looking for a broker with low fixed fees as opposed to a higher CX split. 

With the low interest rates we have had recently I have tried with several lenders to do a streamline refi and or try to access some if any equity from the property.