Which means you can assume that in the event of another downturn (not to sound negative, it probably wouldn't be as bad as the last).

For replacement reserves (at least in Texas) the lender will generally want $250-300 per unit each year.

Sounds like you made an offer at $350k and now have done your numbers and only like the deal at $325k?  

I'd also expect some subfloors to need replacing, potential mold remediation,  and  a lot of dump fees!   

@Mark K. absolutely that sounds awesome, any one on one information would be great, I’ll PM you.

Net result, there are two cracks that will cause problems 5-8 years from now and will be a significant cost to fix.The inspection report shows that the boiler is end of life, needs replacement.  

@William Washington with the limited information in your post, it sounds like you may be offering a security and should be setting up a Reg D offering (syndication).

, and I can honestly say that buying the first year of residency sounds like a super smart move- but DON’T DO IT.

I do agree it sounds like a lot, but I think I would get a sense of what you generally find.

Most recently answered the question of needing to form an LLC, which sounds like is a good idea after I reach a point of having several properties.