Hi Kristin,It really depends on what the after repair value of the house is if you intend to wholesale the deal.A typical formula (some adjustments are made for market strength or location) is that a cash buyer is going to want to spend no more than 70% of ARV minus the fix up costs.

Seconds are typically significantly discounted.

You might touch on the quality issues as a smaller home with more features will fall in the average price as does the larger plain jane.

The building is 24000 feet with lots of hallwys and public areas, and typical 1 bedroom is around 750 sq. ft.Note: this would be a cash purchase with no debt.Calculated the NOI of $31k as follows: Gross Revenue: $101,000Taxes, Insurance, Utilities: $27252 (verified) All told, the Gross Revenue is $101,000 per year.

Hard money may be an option, but the high rates are typically intended for short term deals and will drain your profits if held too long.

Is that typical or does it vary from state to state.

Also, since you are looking to rent use the forum search feature to learn about the 50% rule.

Both of these features are drastic improvements.

There would be proprietary electrical outlets in the house that are a little sleeker and cooler than the standard plugs found in the typical home, but you have to pay extra for adapters to plug in your non Apple stuff.

These properties are typically occupied by white collar workers and have amenities such as garages, in-unit washer/dryers, pools, spas, exercise gyms, the latest technology, etc.