Some numbers that I have come up with that I think will make it meet my criteria for being a possible deal are as follows:Asking price: 37,500ARV: 68,000Rent: $800Cash flow: $378/monthIf I can keep the rehab costs under $15,000 I think it will make my all-in price at enough of a discount that I can make the deal work. 

I don't know the numbers, but it looks like you are buying it at a great discount so it might work out. 

Most banks are not set up to own homes, and are often motivated to sell you the home at a discounted price."

With a FSBO you're going to have to get it at a pretty substantial discount below what he has "listed" for.

Unfortunately, being out of state means I can't always buy at a steep discount and forced appreciation isn't really an option.

We're getting the first duplex at a discount now since they want to be done w/ the showings and the ups and downs of selling.  

The cool thing about buying properties at a discount and rehabbing/renting before the refinance (BRRRR) is that there should be a good amount of equity built in, or forced rather, during the rehab stage. 

Years ago when we all "worked for the seller" as sub agents we were permitted to dig deep and ask some pretty intrusive questions about the buyers' financial qualifications.

Just let me know what kinda volume you're doing so I know what type of pricing we can offer (volume discounts) if you're interested.Good luck guys :) finding deals is important!

It's your business but any landlord that teaches their tenants to pay late is digging a deep hole they will regret.