If the surrounding neighborhood, is bad, the tenants will likely be as well, and that will more-than-likely ruin this project for you.

I've tried and failed a couple of times but was blessed to have a former boss who allowed me to learn construction and how to operate a successful business on his dime for a few years.I am in love with  the idea of being able to take a rough project and make it in to a successful property.

You can piggy-back off of them and do most of the work on projects.

Big congrats the all around project outlook.I am "trying" to get into Real Estate, but in NYC, and have a million and one questions. 

Here are the #s from the BP property estimator.Purchase Closing Costs$3,500.00Estimated Repairs$0.00Total Project Cost$248,500.00After Repair Value$245,000.00Down Payment$8,575.00Loan Amount$236,425.00Loan Points$4,728.50Amortized Over30 yearsLoan Interest Rate4.375%Monthly P&I$1,180.44Total Cash Needed$16,803.50 $2,900.00 MONTHLY INCOME$2,468.77 MONTHLY EXPENSES$431.23 MONTHLY CASHFLOW7.89% PRO FORMA CAP$19,340.00 NOI$16,803.50 TOTAL CASH NEEDED30.80% CASH ON CASH ROI7.89% PURCHASE CAP RATEI assumed I'll do an FHA loan at 3.5% (or maybe 5%) and would pay closing costs out of pocket.

@Tom LippsWe've done an egress project to add a bedroom I think 3 times now to add value to a house and the payback has been phenomenal every time.

Excited to see how the project went

If you have PMI it should mean you want to see out a higher (2%) gross projected rents as it relates to purchase price...Not to sound like a passive-aggressive jerk but are you 100% sure you understand the guideline?

For this year, the completion of 11 office buildings projects in the total area of over 200,000 square meters is planned in Bucharest.

I grew up up 95 in Boxford and have some projects going on in Salem right now.