Is this a good deal??? Clayton Morris Program??

[Jeremy Karja]

Has anyone used the Clayton Morris Program?  Essentially it sounds like a very turn key program.

Basically they buy the house and fix it up for your (of course at a price but if the numbers work, great).  

Here are the numbers after I spoke to them over the phone:

They buy the house (in Indiana) for 15 to 30k.

Rehab it for around 20k (The set the number and stick to it despite changes or surprises they eat the extras if any)

They have a management company that they use.

They give it to you for that price plus rehab (call it 40k)

The ARV around 50k

Taxes, mortgage, insurance, everything for around 500 cost

Rents around 700 to 725

The rehab is a full rehab so you should have very little costs for 10 years (sounds a little too good but what they said)

Cash on Cash around 10-15%

Cashflow after expenses around 180 to 200

Costs are basically property taxes and insurance… mostly everything else handled by tenant.. Gas, heating, appliances, snow removal, etc etc.

They did say the BRRR strategy is being used with this quite a bit too because they get around 25% ARV equity.

I must admit this is very enticing because I have such a busy life but seems a little too good to be true... which means it probably is.  This is why I turned to the BP community to help me find the flaws or considerations before I pull the trigger.

Thank you!