19 February 2008, 11:13 pm
ive been looking for a house in my area (andover, mn) and stumbled across aduplex in the area. andover is kinda a upper class suburb an d the duplex is located in probably the worst part of the small town. it is a 2 unit with 6 bedrooms total with 2 baths with basement and garage. one side of the unit is in better condition then the other but both need a little work. its on a road where there is about 6 other very similar units. seen one renter sign but haven't called to see what it was renting for yet. id suppose around $1000/m the building just hit the market for $140,900 and has a tax value of $237,000 and was sold in 03 for 275k then again in 05 for 305k. and pulled up comps of the other units at sold for 300k + as swell. im gonna be a first time home buyer let alone land lord is this somthing i wanna get into? are there hidden cost or tax or insurance charges? i would probably live in the one unit no longer than it took to remodel the other. thanks... read more
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