EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

It’s a reminder that no matter how thorough the inspection, surprises are inevitable.Seller financing is a great focus too—definitely seems like a powerful tool to make deals more manageable, especially on the cash flow side.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

No obvious structural issues from the listing, but the age suggests surprises are likely.Rehab Budget: • Low estimate = $50K (light updates) • More realistic = $75K (new kitchens/baths, flooring, paint, code updates) • High end = $100K+ if major systems need replacingRents (CMA comps): • 1BRs: ~$1,400–$1,750 each (https://prnt.sc/RMm854WPuPdk) • Stabilized Gross Rent: ~$4,200–$5,250/mo (~$50K–$63K/yr)Cap Rate: ~9% if rehab stays in the $50K–$75K range, falls closer to 7–8% if it pushes past $125KConstraints:FHA 203k requires me to live in one unit for 12 months, so only 2 units would generate rent in Year 1.With 2 units rented, cash flow looks negative (~–$600 to –$900/mo).With all 3 units rented after Year 1, cash flow flips positive (+$600–$800/mo) and grows with rent increases.My Question:For anyone who’s done a 203k or similar triplex rehab — does ~$75K sound realistic for getting this building into clean, rentable condition (floors, paint, kitchens, baths, basic systems)?

.), I always let confirmed guests know right away so there aren’t any surprises.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Don’t come back with surprise increases after the project starts.

Be specific.This process is to be sure you're on the same page with them and there are no surprises for either party.  

Quote from @V.G Jason: Doesn't surprise me, you've always been one of the slowest people on this board.