You also have to take into consideration these expenses:  Monthly management fee, utilities, insurance, repair reserves, taxes, HOA fees, once a year deep cleaning fees etc.

My goal is to buy the properties with conventional financing, repair them to a rent ready condition if necessary, and hire a property manager to rent them out.

Hello bigger pockets family. Had a quick question regarding FHA loans. Generally those require a 3.5 down percent tagged along with closing cost etc. I've been reading about FHA for a while now and found that some ban...

I had a 5 unit on month to month and after a major costly repair (water issue) 4 of 5 units gave notice in December so I had to accept much lower rent to fill the 4 units.

If you have a vacant property and pay me a property in disrepair and it's not feeding you income, you’re getting eaten up with property taxes with insurance, water bills, grass cutting, snow plowing, repairs and city violations.

Analyze the home’s condition, possible repairs—what does it look like it needs?

Once you have a rental for a while and have made some repairs you should have a better idea of what to expect in terms of repairs.

hiI am looking at a property that has had a long term tenent ( deisel automotive repair ) working on trucks in their unit as well as the surface lot.

@Neel PatelYour numbers for repairs and CapEx are a little low.

- Does anything need attention/repair now?