New roof Architectural style rip and replace $4/sqft , gutters 1500 sqft $750,siding and sheer 1500sqft $10,000,exterior paint single family 1,500 sq ft $3,000,kitchen repair single family nice $5,500-$7,500,windows vinyl clad $250 each,full bath repair $2,500- $3,500,replace one hot air furnace or boiler $2,000 - $2,500 depending on size,carpeting $500 per average size bedroom.

Should be owner financed purchase, my money on the rehab, numbers in line (65%+/- less repairs) with low money costs on a $350k+ house.Back in the day I used to pull a lot off my newspaper ad, I imagine the web would be similar, but these days its pretty rare for the homeowner to have any equity around here, so the better deals are from banks, hedge funds, other investors, etc. so knowing people works better than letters and signs for me.

Rehab and repair expenses Prior to it being rent ready get added to your purchase basis, and depreciated, not written off this year.

For your own comfort level your acquisition cost, the repairs, carrying costs and selling price are all part of the equation.

My inclination is toward more units, since with a larger building, we would centralize our holdings and potentially have fewer big ticket repairs (ie one roof to replace instead of 2).Everyone else - I appreciate the discussion of the pros and cons of other financing options.

We have made extensive repairs (more than I planned on, honestly) including a substantial re-wire, plumbing repairs, new roof, insulating of the attic, and we plan to re-side this summer.

This prevents things like "the LL said my security deposit would be applied to my last months rent (no your SD is for damages and will be refunded AFTER the last months rent is paid and any repairs are deducted), "the W/D,fridge, stove... are mine not the previous LL's", "I signed for $500/mo rent but the LL said I only had to pay $400 as long as I mow the grass and do the snow removal" ect2) Now you need to know if the LL might have placed higher than market tenants using some sort of a teaser "no SD required" or " free first months rent (but higher than market rent for the remaining lease term)".

They contact person is saying the property is still for sale.The property has been vandalized while it has been sitting.the contact person is asking $8000 for the property claims it needs $15000 in repairs and is valued at $49, 500.I couldn't find any information on the property under the county assesment.

Because I wanted it all checked out and fixed properly, I called the repair person in and paid.

Now buy repair and rent you can get outstanding ROI.