In order to minimize my risks as I am very new to this, I am trying to search for a mentor who can help me work out the steps, get my hands dirty and create a system that i can replicate.Any help that you guys provide will be really helpful as I am still trying to figure out how to start, who to meet and what questions to ask.I look forward to meeting you all~Sid

If they don't have it, work out a payment plan of $50 per week until it's paid.

It was a very nice place with hundreds of units, 3 swimming pools, workout facility and more.

Best wishes and I hope things work out for you all.Andy

Intemidating your tenants might not work out for you.

However, I'm sure with older apartment buildings the price of these might work out to an adavantage.

If there is water damage that might be serious, they can ask for other inspections and for repairs to be made, repairs are, at that point up to you and the seller to work out.I'd suggest you try to look to your lender as your knight in shinning armor, they protect you from getting in over your head, if the property has serious defects, you might look at something else...but if you're a rehabber, work out the repairs needed.

Brian Burke makes a good pointThey may have wanted to use it to keep the kids close to home and that didnt work out

So IF net is $21,600 at 16 cap price would work out to $135,000.00I personally have experienced the problems of old, apartment complexes in low income areas; I much prefer the easier returns of private lending or even the lower cash flow/higher appreciation of properties in A areas, so I would need a 20 cap to be interested.

I decided on / created the name myself, and decided on it before friend 2 joined in.I'm responsible for all graphic design, all video editing (this is the most time intensive part), I registered and manage the youtube channel, I manage the uploading of the videos, I have a background in web design so I'll be registering / creating the website, I manage and operate our social media profiles.