@David J Warrick Jr Pre refi 6 month rehab = no income refi after 6 months = 100% vacancy. No PM. Shouldn't need repairs or capex during vacant period. Where you getting your capex figure? Don't know if you are buying 1 side or both. Roof replacement for 1 side $5000 / 25 life span / 12 months = $ 17 per month. Floors 1200 sf @ $5 sf / 8 year /12 month= $62.50. Two items exceed your capex budget. I would assume you want to budget for heater, water heater, kitchen remodel, bathroom remodel, painting, etc
Suggest you do a more detailed work on rehabilitation. Asbestos, mold, lead based paint, plumbing, appliances, and roofing(gutter). If I am not mistaken the concrete foundation wall in one of the photos is warped.
I assumed it is a teaser price as sellers try to get the attention of buyers. If so other offers will be way higher.
Thanks for the reply's, and more importantly the information. I Have not gone to see this property. I am looking for a good property with good numbers to show a friend with capitol who may partner with me on a BRRRR. I will update and use the information I missed on next one and do appreciate it.
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