Current Tenant Rent: $1075, Monthly Payment: $400 (with property management), Initial Repairs: $2-5K, Down Payment: $12K

At surface level, do these numbers check out?

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Likely story - high apparent cap rate & CoC, but reality is C/D neighborhood and tenants yielding headaches, collections, evictions, repairs —> little/no effective return

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Lmao you’re buying in a D class neighborhood aren’t you? Have fun dealing with D class tenants

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What do you mean holes in the wall are standard decoration?! 🕳

So you’re cash flowing $675 per month ($8100 per year) on an investment of $17,000? That’s a 48% cash on cash return. I’d say that’s pretty good. I feel like we’re missing some additional information…

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This doesn’t add up. If it looks too good to be true…

Something tells me that the tenants owe back rent, and/or there are significant maintenance items that are long deferred and coming due. A $10k or $15k roof job, or a repipe or foundation issues kill your gains. Something smells fishy here 🐟

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