Also empty nesters are migrating back into the city for low maintenance living.

But in reality you would subtract maintenance, vacancy and management from that rental income.

Regular brokerages want agents selling on 50/50 splits.

I have already signed up to attend next months meeting at the local REIA and I plan on becoming a member and a regular face there.

@Michael Sherwood I am actually in Germany for the next few months but maybe we could connect sometime in the Spring/Summer.I will be in Central NY for the majority of the summer and regularly make the drive through Buffalo to visit family in Oakville.

So, 7% Cap isn't bad, especially for multifamily.1998 is still relatively new, so you shouldn't have too many capital expenses and too many maintenance items.

The seasonal maintenance (Grass / Snow) can be the responsibility of the 1 st floor tenant.

Can I simply use an option contract with the wholesaler and then use a regular assignment contract with end buyer?

When figuring my cap I allow 20% for vacancy and maintenance and also PITI.

He has also done most of the maintenance on it.At 50 he realized he has little in the way of retirement & needs rental income to ensure he can in fact retire & get through the winter layoffs.