un fortunatly a common behavor flaw is to blame rather than accept responsibility for our situation.

Personally, I think I would rent it out and perhaps try to do a "lease option" to get a little more rent and transfer the maintenance concerns over to the tenant.

Around here, the only property - other than vacant land - for sale under $100K is either a dilapidated 2-bdrm "shack" on the outskirts of town (and it's listed at 89K) or an old house in a very rural setting.Even bank repo "Johnny Canuck" house {65 - 70 yr old, 1.5 story 2-3 bdrm houses built by/for returning soldiers after WWII} full of deferred maintenance are going for $135K {two in the last two weeks}.The 30-40K houses and 89-100K 4-plexes you read about on Bigger Pockets is what is enticing investors here to look south (sometimes even further south than the U.S.A).If I had enough cash-on-hand to be purchasing multiple 4 - 6 unit properties outright (at 250-500K a pop), I'd be in the private lending business and not the buy-and-hold business.

It is:Gross rents x 50% = Cash Flow before debt service (the 50% includes taxes, insurance, property management, utilities paid for by owner, maintenance, vacancies, etc).Once you have that number, subtract your debt service payment (principal and interest), and you will have the cash flow.Without the actual rents or your loan details, it's hard to provide an accurate example.

If your model is to create lots of things and sell them, but those things require maintenance, then you might as well be the one to do the maintenance since the buyer of those things is likely not equipped to handle the maintenance (or at least not any better than you).

This is a technique which is used commonly by sophisticated investors, but threshold for action is very specific.

These comps are all single story, so I am assuming at least for the 3 bed that the common areas suffered in order to make these bedrooms happen.

Remove the utilities and you may be at $100/mo.If the owner pays maintenance, this is no deal.

I didn't know you could paint vinyl- doesn't that kind of defeat the point (low maintenance)?

He's been there just over a year.Numbers are as follows:$925 monthly income$876 Property taxes$462 Insurance$600 maintenance$50 advertising yearly$150 Administrative yearlyFinance amount $ 65,0005.2 percent interest 30 yrs. $ 13,000 down$1625 Closing costWhat you think?