I was wondering if there is anyone in the South Florida area that may be interested in doing an advanced rehab project, and would not mind showing me the ropes as we progress through the deal.

Thanks for the info and keep us updated on your awesome progress.

I will run the application through Cozy.com once we have photos.

Looking at the job in their original application or move out packet will tell you loads about their money making abilities, and if they have something to go after.

I have a 2/1 that rents for that , and since its so cheap I get the crazy applicants .  

I do noe have a bunch of experience but I have gained progress in real estate because that was what my business degree was emphasized in real estate eventhough I never did that full time.  

Unless I'm doing something wrong, it seems like 1% rule isn't really applicable (in TX at least), from what I've looked at it seems like 1.5%+ or 2% for a deal to make sense.

It seems like it is not applicable if using HELOC funds. 

If by the time you complete a background check, credit check, employer verification, conversations with previous landlords, an application fee, deposit and personal interview you're still having problems with your tenants, you're doing something wrong.And if you're unsure about being a landlord in general, then you can either put people on month-to-month leases so you can quickly get rid of them, or hire a property management company to manage it for you.While the landlord laws may look great in some other states, you'll may also be missing out on all the fabulous appreciation that can be experienced here in California.

If the current owner has awful tenants and a property in disarray, who knows if he has skimped on routine maintenance, leading to a lot of deferred maintenance (which you need to underwrite into your financial modeling).Keep this thread informed as to your progress!