Checklists for Buying Rental Houses and Apartment Buildings table of contents

1 Overview 1

Part 1 Investment strategy
2 Residential property investment strategy 5

Part 2 Location
3 Neighborhood 9
4 How to avoid rent control 17

Part 3 Finding buildings
5 How to find buildings to buy 21
6 How to invest absentee 27

Part 4 Finding a lawyer
7 How to find a lawyer 33

Part 5 The physical inspection
8 Environmental audit 43
9 Structure inspection 47
10 What to take with you 51
11 Night inspection 53
12 Exterior inspection 55
13 General 63
14 Living room 65
15 Kitchen 69
16 Bathroom 75
17 Bedrooms 79
18 Basement, utility room, crawl space 83
19 Common area 89
20 Elevators 93
21 Interviews 95

Part 6 Predicting income and expenses
22 Rental comps 101
23 Income 103
24 Expenses 105
25 Verify and estimate 109

Part 7 The purchase
26 Negotiation 113
27 What to include in your purchase agreement 115

Part 8 Financing
28 Financing 121

Part 9 The closing
29 Closing preparation 129
30 Pre-closing inspection 133
31 Closing 135

Appendices/Index
Appendix A Seller interview questions 139
Appendix B Previous owner interview questions 143
Appendix C Tenant interview questions 147
Appendix D Property manager interview questions 151
Appendix E Resident manager interview questions 153
Appendix F HVAC contractor interview questions 157
Appendix G Neighbor interview questions 159
Appendix H Other buyer interview questions 161
Appendix I Business trip checklists 163
Appendix J Pertinent references 167

Index 169