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Re: Something Fishy is going on here....
170 units at 95 grand a month is approx. 600/month of homeowners fees. Are you sure you're not looking at it from rent rather than homeowner's fees? 600 per month per house is obscene, and I doubt that's correct. At most I can see it being approx. $50/month which would give you $8,500 per month or $102,500 per year. That is very good. Even at $100/mo you're looking at $205,000 and assuming the maintenance guys have a wage of approx. $60,000, that leaves $80,000 for everything else (truck maintenance, cost of equipment, wear and tear, pool maintenance, water, and so on.) which is a bit high but not too unreasonable.
If you're paying 600/month in homeowner fees then something is completely wrong.
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