Actually I'd love some feedback on that line of thought, what do you think?

I paid the owner my rent, which happened to be equivalent to a mortgage payment.On January 4th, I actually bought it from him and became the owner.

They don't account for the time spent on the property which dramatically reduces the actual return.

  :)I actually like a lot of the advice that you give on here for investors. 

Especially because with REO's, the form of title/deed the bank actually gives you may vary. 

With each sell we have been able to make some profits which has given us hope that this is something we might be good at with an actual investment property and not our home.

Don’t just show the potential income with a hypothetical tenant, but a tenant that is fully committed to actually moving into that property with a set price.

The skip trace software is amazing because the more data you can put in—the tax mailing address, the actual physical mailing address, the person's name, the cities they're in—it’ll start pulling all their known telephone numbers, email addresses and mailing addresses.

A roof or major mechanical replacement is not all the sudden less because the property costs less, so the % marker gets majorly skewed.When you inspect the actual property you will have a better idea of what to have set aside for Cap Ex and other reserves like repairs and vacancy.  

It is run by the MN Secretary of State and allows police officers, government officials, victims of domestic violence, etc to hide their physical address.