The name of the game is to get filled up fast and stabilize and then sell or refi off 1 to 2 years later.450 X 52 = 23,400 month X 12 = 280,800 gross expected annual income.Back off 50% costs if landlord doesn't pay water or utilities. 280,800 x .50 = 140,400 NOI at a 10 cap for resale that is 1,400,400 before resale expenses.700k + 52 units let's say 10k a door rehab = 500k 700k purchase plus 500k = 1,200,000You would really have to nail down cost per door rehab and the exit cap and lease up rent.

Some have mentioned marketing, but that just doesn't make sense for buy/hold and the amount I buy per year.It's been like this since July-August and the water is getting more still.

I would definitely test the waters BUT...I would do it VERY carefully.

.); costs included in fee (landscape, water, trash, cable, internet, security, etc.); and community maintenance issues.

It's a product of Biggert-Waters.

Would you recommend jumping right into a cheap house (15k) that needed a lot of repairs like replacing water pipes, gas lines, floors in one room, A/C Duct, and rotting wood on the exterior?

All new foundation, all new plumbing, all new electrical, new furnace, new water heater, new siding, new roof, new garage door, new drywall (house was torn down to the studs and rebuilt when moved).

I separate out IMMEDIATE CAPEX versus ongoing capex.If landlord pays water I use 60% operating expenses total for vacancy, O and E, and PM.

In my experience, you should expect 2-4 weeks for issuance of permits if it's a typical large rehab that doesn't need to get reviewed for zoning, storm water management or environmental concerns.In terms of how many bids you should get, I'd suggest getting as many as necessary to ensure that you're comfortable that you're hiring someone you trust and that you're not paying too much.

I plan on seperately metering water asap.Problem is hot water for all 3 units are supplied by 1 hot water heater with that electric being paid for by tenant in apt C( they do not know they are paying the electric for everybody's hot water use).