Sometimes the market justifies a 'clean and flip,' but most fix and flippers can't see past their investor tan paint, stainless steel appliances, and granite counter tops.

This one time, at band camp....I once bought a mobile home in a senior park while the economy was taking a dive.

I was wondering if you could help figure out where exactly I should land with an offer.Asking Price: $410,000FMV Rent: $1,455 per unit ($4,365 total)Rent Used for Calculations: $1,164 per unit ($3,492 total) (Used 0.8 FMV to be safe, but I can definitely get the FMV which I will describe in more detail below).Vacancy Loss: 8.33% ($291.00) Gross Monthly Operating Income: $3,201.00Repairs & Maintenance: $320.10 (10% of GMOI)Real Estate Taxes: $440.00 (1.3% of Purchase Price)Rental Property Insurance: $170.79 (0.5% of Purchase Price)Replacement Reserve: $50Monthly Operating Expenses: $984.85Annual Net Operating Income: $26,593.80Capitalization Rate: 6.49%Cash on Cash Return: 32.53%Days on Market : 3Now what's interesting about this property is that it's completely gutted rehabbed (new EVERYTHING, but no stainless steel appliances, but the market doesn't call for it) and it's in a good location.

Thanks, I will measure and probably get a braided fill hose as wellFrom looking at Consumers reports and online reviews, Whirlpool and GE are the brands they recommend.I'm thinking of this one, but the only knock is it has a filter and not a grinderhttps://www.lowes.com/pd/Whirlpool-55-Decibel-Built-In-Dishwasher-Monochromatic-Stainless-Steel-Common-24-in-Actual-23-875-in-ENERGY-STAR/50258927

The steel mills closed in the eighties and everyone under forty left.

For credit building I dont think you need to show cash coming in - as far as I know you need to get the credit and pay on time or may be 10 days before so the creditors will report to D&B and eqf

You will find that the majority of landlords do not spend the money to make the property desirable and they put band-aid fixes on problems.  

anyone know where you could find what the national average cap rate for class a, b and c?

Keep in mind that many of the sites use 506(b) and the Lamp NAL or other exemptions.  

This is called the “band of investment” technique, whereby you take the weighted average of your mortgage component and the weighted average of your equity component adding them together to build a cap rate, for example:Mortgage- 75% LTV , 4.5% interest rate, 25 year amortization.