House needs new window, new electrical, new plumbing, new HVAC including duct system-everything.

I will keep you posted regarding the progress of my project. yes my job will be a full rehab ..I can imagine knocking down some walls to open up space looking for a more modern layout ..moving electricity, refinishing/putting new flooring, gutting kitchen, new cabinets, counter tops, full paint outside/inside ..possible new deck, yard, possible cosmetics in the basement (new carpet, finish walls etc) ...properties selling for under 50K in my area are needing all that ..I hope I will not discover too much while opening walls. most of those houses are winterized with no utilities running ..so once I switch electricity/gas/water on ..lets see if the thing will not fall apart ;-)

All of the infrastructure was done up front including electrical and plumbing to the area where the other 16 units would be going in.Here are the numbersAsking price 900K, (it was previously under contract for 800K)Monthly Rent Roll is $805010% estimating property management10% Vacancy(it has historically been closer to 6% in this area, but better safe than sorry)Insurance estimating $350.00 annually per unit7125.40 Annual property Taxes.All utilities are separately metered and paid for by the tenants10% maintenance5% CAPEX /Reserves- The first 8 units were constructed in early 2010 so I am not too worried about major CAPEX at this pointWhat else am I missing?

Once your son gets the bug watch out!!

Do you have information on the normal big ticket items such as roof, HVAC, electric and plumbing?

Repairs: 3,010Utilities: 2,884 (tenant pays heat/electric/gas, owner pays water/sewer and trash)Taxes: 8,925From my analysis, using the 50% rule, at the $3,070 gross, would leave $1535 after expenses.

The realtors info provided to me was "annual expenses on the property are 6870 dollars which includes grass cutting, snow removal, gas, water, electric, trash removal, septic maintenence, applicance updates, lighting, painting, repairs, etc.

im thinking i need new mechanicals, plumbing and electric.

There are new electric boxes for all six units split out with a couple circuits run up to each unit, probably just in the kitchens.

They all rent for about 1000/month.My monthly PITI is 2800.00I add in my snow, building electric, oil on two of the units ($1200), water/sewer ($1200) etc and I come to a yearly expenses of 37,000.It will earn 48,000 in rent plus about 1500 in washer/dryer fees.So I have a cash flow of 12,500.