Well, not so fast.For every successful flip, there is an account of some nightmare project that sucked the bank account of someone dry.

Additionally, I am also open to the Tobyhanna and Strausberg area as well.

There's micro neighborhoods that do very well, even in a macro declining population.

That is bump up for me as well.

A tenant living in a 100 year old called board of health for drafting windows (never called us first) and BOH made us replace them within 30 days, well custom windows take longer than that to make so we got fined.

There are also 2nd mortgage options as well. 

Bank won foreclosure in 10 months so luckily it cashflowed as well as it did. 

You'll also need $10k-$20k for closing costs and other items on normal loans, as well as 3-6 months of reserves (PITIA) for the majority of lenders. 

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

There are a couple opportunities thats on MLS currently, and I am crunching through my math and it seems to work out well (positive cash flow, decent cap rate).Some key assumptions I hope still holds true today:  low vacancy rate in general. ~1000-1200/month for a room in a single family house / duplex.