I self-managed my apts for years but it's time to hire a property manager (as a w2 employee).

We also improved the house with custom closets, landscaping, curtain rods, additional cabinets, fencing the back yard...We also lived below our means so we could buy stocks.We participated in an employee discount stock purchase plan.  

So there are 19 empty space pads. 5 out of the 6 apartments are rented.The total gross income is $4,600.00 a month.If I Rent the remaining three mobiles and apartment.

Sounds gross, I know, but it can be a real problem and I know that even hotels have the problem.

We only bring in $70k gross currently between our two jobs and don't anticipate it changing anytime soon.

For me, my truck has a little rust around the wheels, is a little worn around the edges, and is older than the vehicles that my employees own (all 90%ers), but I smile every time I look at the balance sheet and smile again when I turn the key every morning and it does EXACTLY what I need done for a whole lot less than what they are all spending!

I am currently listing an eight unit building which includes seven residential units and one commercial unit and have provided the seller of that building a pro forma income and expense statement with a 5% of effective gross income allowance for maintenance and repair expenses.

The gross potential rent was about $67k and the actual collected rent last year was $49k.

If you told this to all the Google employees now they probably wouldn't believe you.Looks like the other CA investors above don't realize how you can have any equity in 3 years, but when you buy at the bottom and the tech industry starts hiring really high paid positions like crazy, it is not hard to imagine a $300k gain.Congrats and good luck going forward.

Any immediate capex discovered needs to come off of purchase price.18 1 beds X 425 = 7,650 X 12 = 91,800 gross expected yearly12 2 beds X 525 = 6,300 X 12 = 75,600 gross expected yearly167,400 yearly X .40 (60% costs) = 66,960 NOI which is670,000 sales price at a 10 cap without any immediate repairs needed.