Rent for the first full month of occupancy;Rent for the rent for the last full month of occupancy calculated at the same rate as the first month;A Security Deposit equal to the first month's rent...; andPurchase and installation cost for a key and lock.IREM Chapter 4 recommends that our property management colleagues perform a thorough evaluation of all leasing and marketing materials.

Remember low doesnt always equal quality.

Apartment Building: (all thing being equal)Pros: one roof, one boiler, one location. it is easier to justify price with income approach valuation.

The shitter the little town the better*transient population exceed natural houses available so with BAH the prices for rent tend to be higher than mortgage*Not all bases are created equal- the key is to know your base.

Also, many management companies will give you their thoughts about a home prior to your purchasing it.NOT ALL MANAGEMENT COMPANIES ARE CREATED EQUAL.  

All things being equal: you should know how much you can borrow with the amount of money you have to put down, for many banks want 20% down.

Down payment would equal $10,980 (2 units).  

If the place is vacant, I'll often do that a few days before the lease is supposed to start and put a note in the lease saying those days are free.If I'm willing to hold a place for a tenant to move in later, which I won't do in our market for more than a week or so, then I require a holding deposit equal to the deposit.  

I have about 65k in cash to invest out of state and if decide to invest in LA I have a partner willing to join the venture with an equal investment.Do you guys have any suggestions on other cities to invest in rental properties around my budget?

So you are in a good company.Some say that your net-worth equals your network, and this is the place to make right connections.