I am looking at a project that is a historic building that sits in an Acre and is 8700sf . very walkable to lots of amenities,restaurants,grocery, schools, government offices e t c.in the past i have remodeled SFH ,renovated industrial builings to retail centers (sizes up to 15000sf)Project Scope: i am thinking retrofiting and add an addition and have aprox 32 units of apartments with elevator, and finishes stainles appliances,granite tops, study says that target tenants are milenials,retiress and due to proximity to government offices government employees.current rents go for 1bed 900-1000 and for 2 bd 1100-1200 . the sf need for 1 bed is 800sf ( should be able to rent according to the study for $1200)and for the 2 bed is 1200sf( should be able to rent according to the study for $1400)for this area.14 1 bed x $1000 =$14000 x12=$168,000. year18 2bed x $1200 =$21600x12=$259,000 yeartotal yeqarly income $427,000.00 -8%$34,160)vacancy (study says 3% for this area)=$392,840.00 yerly gross income.using current rents for fast stabilization as the goal is a non recource loan.i have couple questions that i would greately apreciate your input. 1)is it worth going after tax credits and how do i find more information?

Asking price= $550,000.00Of the thirteen units:5 are weather tight, and unfinished 5 are newer (2 bedrooms, 1.5 baths)3 are older (2 bedrooms, 1 bath)Average current rent= $797.502014 gross income= $54,605.00 (unverified and seems like it includea vacancies, but unsure how many.)Total expense (2014-unverified) = $21,855.92Above expenses do not include tax ($18,896), management fee, repair set aside, or principal and interest on the mortgage.The property is in a rural location.

I figured this out when I realized you are on a 1st name basis with the Cracker Barrell employees. ; )

GROSS!!

The gross rent total after repairs is about 7k.

Section 8 Tenant let her kid trash the walls with writing all over the walls with crayon and gross things caked on to the walls like boogers and food.I had not been in the unit for 2cmonths and it really took a beating. it looks like she has been there for 8 years and cleaned once if at all.

Tracey - they cannot install in a 'common area' without permission of the owner.Call them up again and get names and/or employee ID numbers before voicing your complaint.

The only other crew that bid was a crew that had been caught by the feds twice already for hiring illegals AND did not pay their workers as employees or cover them with workman's comp insurance but paid "by the piece".

I will also fax companies HR departments asking them to advertise the unit to their employees and offering a $200 referral fee if one of their employees is accepted.

Typically you'll just take the gross rent yield and cut it in half to account for all expenses including property mgmt (multiply gross yield by 60% if you'll manage it yourself).Now layer on the benefits of the 75% leverage (loan).