Everything else has to be refreshed : Floors (carpeted, heavily spoiled and cat urine odor) Ceilings dry-wallWalls dry-wallElectrical is out of date (knot and tube all over, electrical panel needs replacement) Risks: Sanitization (cat urine smell, potential for pest problems)Structural integrity not checked (unable to check in a timely fashion due to deadline)Evidence of water damage on main floor ceiling, extent of damages unknownNo smell of mold in basement but knowing the city history of flooding, this is uncertainPlumbing looks recent but it was hard to be absolutely sure of this assertionThe reason I decided against in the end : too many unknowns.

They want a property that needs work, but not necessarily one with extensive damages.

They want a property that needs work, but not necessarily one with extensive damages.

I am however concerned about the effect the oil industry will have on the rental market in light of upcoming elections.

However, financing a 6% cap rate with a 5.5% loan will have the opposite (i.e. detrimental) effect on CoC, and this is because there is only .5% spread between your cap rate and loan interest rate.

It's hard to get the courage at first, but at the end of the day it is still a very effective way to get more business.

How has the government shutdown effected your clients and your business?

Can I get her to sign an agreement giving up all rights to property effective 1/12/19 that would hold up in court? 

Its infrastructure was in pretty good shape but cosmetics were terrible with water damage, missing toilets, sinks, appliances, torn or missing flooring and large holes in the wall.

I feel like this would greatly effect who comes in the door but these properties are very affordable ranging from 105000-160000 and if it’s good to invest here I could potentially buy multi down the road.