Siteworthchecker must be pretty accurate.

-UweSorry Uwe, but your numbers aren't accurate in this case.

I think that 40%-43% would be slightly more accurate.

You just know that the "guru for condos" (whoever that is) will be saying that investing in condos is the BEST strategy for you to follow ... whether that is accurate or not.

Chris,I'll estimate rehab after viewing the property and again with contractors/rehabbers to ensure accurate estimates.

Max, I am not from Detroit, so I would have to find a property manager to take care of it.I was just thinking of buying a couple as a gamble more than anything else.

It seems like a huge gamble to 'part it out' unless that's your expertise.

But even if it was not, you would do your due diligence nonetheless it get the accurate answers to your questions.A 4-plex is still considered residential housing (1-4 family) and thus most of these owners are not commercial landlords.

The numbers seem decent (if they are accurate)...You could likely get a hard-money loan for significantly higher rates, but private money is going to be based on the relationships you have with the lender as much as it's going to be based on the deal.Do you know private lenders who are willing to lend?

Before you can accurately assess your options, you need to know one crucial point.