Found What I thought Was a Deal But,...
I found a very nice C class building with 10 units near me that seems like a great deal on the surface. If you use the 50% rule, the numbers are great. However, I have a list of expenses from the owner that total 65%. At that number, it's not really a deal. I would have to put a lot more down and low ball the owner to make it work. From what I've read here the 50% rule is almost matter of fact. Should I count on 50%? The rents are $200-$250 below market but you can't raise them to market rates all at once. My plan is $50/yr.
Below is the analysis at the lowball offer. They are asking $335k. Thanks for any help you can offer.