Be sure to hire an inspector, do any secondary inspections recommended (i.e. roofing, chimney sweep, etc.)Confirm taxes, utilities, insurance, etc. 

With me paying the mowing, snowblowing, heat, electric, hot water, rental for one hot water heater and the 3 meters for extra gas usage, well, do the math. 

So in other words, the math that I use on single family properties is exactly the same as the math you use on apartments, and well, everything else in this universe. 

Learn the math for whatever type of investments you want to make, once you have the math down it is easy to formulate a goal for saving from there.

Allentown/Lehigh Valley: I would call this area the secondary market.

If I run some very rough math on the deal, it seems like your all-in costs for every penny spent are in the low 150s - 150-155.

For secondary heat you could install inexpensive electric baseboards and the tenants would only need to use them when the temp drops below -15 I believe, depends on the heat pumps that you install.

The big issue I see at the moment is that 203K loans disappeared from the secondary market in March and only 2 have come back so there is not a lot of pricing competition at the moment.Originally posted by @Christopher Miller:Thanks.

I’ve got some math to look at.

Back of the napkin math tells me that if I could secure a line, we could buy several (3-5) small rental units and not have to average huge nights/year or income/night numbers to cover both the LOC as well as conventional mortgages on the new properties.