Do not expect them for nothing but if they can depend on you later they might work for you and/or get paid later, some of them will work under those circumstances.Good luck to you!

Many folks under estimate the cost of the rehab and think that it is worth more than it is after the work is complete. 

As a general rule of thumb avoid anything under $100k, the pro forma numbers will look way better than the actuals, and avoid flood zones.

the building is still under his name and would go to his heirs, sounds like the 3 of you would be running the property for him while he makes the money. if you entered into this there would have to be some kind of agreement that you take part ownership. on the other hand, this would also be a great way for the 3 of you to learn about real estate and tenants, yet be able to walk away if you can not handle it.

I know my market very well but I never imagined 5 days to be under contract.

Being on sea duty i will definitely need a PM to manage the property while I am under way.

Hey guys, I have my first MHP under contract and was wondering what kind of rules should be enforced?

The water stays under the toilet and seeps into the sub floor .

Im seeing very little in the way of cash flow properties but wanted to seewhat you all though about my inputs.Im making a few assumptions mainly looking at multifamily up to 4 units with 10% down (I know this is low but I've found banks that'll do that in my market for properties under 500k) then I account for maintenance/debt servicing from past experience (wondering if people have a better way that would take into account property age and condition for maintenance estimates), finally I set vacancy at 1 month a year (not sure if that is reasonable either). 

I’m under contract on 3 duplexes on the same street in Mobile, AL.