I don't know the specifics of the note you were looking at but often BK notes and notes sold to smaller investors / funds don't report.It is also common to see notes for sale where it's already been foreclosed by the first mortgage (so they have nothing to sell).A few months ago I saw one where when you looked at Google Street view, the building had been half destroyed by a fire, yet the "value" was way high.

Good thing we installed cheap carpet, the tile floors only had to be cleaned, because they couldn't destroy it.Also don't put landscaping just throw gravel because they won't take care of it. 

. § An unstated, but underlying goal, is to track all cash movement in the United States so as to also ferret out and destroy any underground economy that exists in the United States in order to collect taxes on monies currently going unreported.

I like rentals with everything that makes a tenant happy to stay there for as long as possible, tempered with not putting things in them that require money and time to maintain, tenant turn-over destroys wealth building.

Students will generally treat their rooms and private bathrooms well, but the common areas get destroyed.

The numbers seem solid but we won't be able to tell you how you truly did until you can let us know whether or not the tenants paid all rent on time and couldn't have been more courteous or they started destroying the property and you had to evict them.

NO house here sells for under 100% of value unless its a hoarder house or basically destroyed... what I find in your market is apprasials are pretty much meaningless.. the homes in the rentals areas are sold on GRM or acceptable cap rate or 1% rule pricing... not retail pricing were the ARV's come from. 

Ask me how I know this....2) the hardware at ikea for cabinets (drawer pulls, etc) is not the best, and needs some patience and tweaking, but can give you a really, really cool look for a lot less than custom.  3) if and when someone tears through the outer laminate (plastic) layer on them, water will destroy them in no time (think under-sink leak)

@J Beard, I understand your concern and agree with you to a certain extent although I don't consider someones reputation to be destroyed because they drive 60 mph in a 55 zone - going over the speed limit is also known to be illegal and could be considered un-ethical.

You $4000 flooring expense will be destroyed by the average tenant in any neighborhood, but especially in the "not-so-nice" rental pool you describe.