I do handyman work myself but I don't necessarily know all the specifics of local building code down to the last detail, etc.

I need an objective view :D Income and Expense Statement 2008 Total from rents $45,118.40 Expenses: Mortgage=$3,261.52 Homeowners Insurance: $4,200.00 Electric Bill: $267.08 Water and Swear Bill: $2,456.00 Heating Oil: Oil City: $2,185.20 Its a 5 unit building coded as an apartment.

I built a list for 4 zip codes, have a mortgage from $1,000-100,000, total assessed value between $35k-125k, and a few others.

One thing I would suggest is to possibly consider taking on more ZIP codes.

The tenants will be placed sequentially as each units is made up to code, to welcome new tenants.After all 7 units are leased out and rented out for 3 months the short term play is to resell the yield to a fixed income fund at 15% gross yield.

Do you live where hurricane codes need to be followed ?

Rule: Maryland Code B.R. § 7-101(c) defines a collection agency as follows: "Collection agency" means a person who engages directly or indirectly in the business of...

Your friend should not pay a capital gain under IRS code section 1213.

I just had one replaced that included removal, a new tank, all required piping to code, for $1800 total. 

Probably between $80,000 and $200,000, depending on:- Level of finishes- Type of house- Type of contractors- GC versus using subs- Local code requirementsBiggerPockets has a book on estimating rehab costs that you can check out...