I am in the market to purchase a fixer upper / foreclosure cash.

And is most wholesales fixer uppers, because that changes my ROI strategy.

Just like what Johnson said, the house split into two 1/1 units, upper and lower.  

Level 2 River White Granite and Venetian Gold Granite are two other options I'm looking at...The home is a rental property which I'll either move back into or sell in 2-5 years.This is the wall and floor colorThis is the kitchen with the old cabinets..Cabinet uppers and lowers are going in painted white.You can see where he island will go

Hello,I am rapidly getting to the end of closing on the most fixer-upper property I've ever purchased.

From what I can tell, looks like you can find a ready-to-rent SFH in those neighborhoods in the upper $500s, and one that needs a lot of work for around $400k.

Those would all be upper middle class properties with access to a lot of night life and high income tenants, and the cost to buy for the most part would be a lot less.Best of luck to you!!!

Keep in mind if the description/pictures show the home needed a lot of work, then the price will be lower than normal, and alternatively, if the description/pictures show the home was completely renovated, then the price would be on the upper end.

My math with your numbers would be more like this:Acquisition:Asking: 290kRepairs: 15k Total Acquisition: 305k Revenue: 28,800Taxes: 4583 
Insurance: 1800 Cap ex: 2400PM @ 10%: 2880 Total: 11,663NOI: 17,137 Cap Rate: 5.6% Cap Rate w/o PM: 6.56% Not a crazy return but pretty normal to see in Miami if you're purchasing in middle to upper class neighborhoods.

Had some cash saved up from working a full-time job in logistics and a part-time job teaching tennis, and bought a fixer-upper for $29,000 with a tenant in place at $700 (sounds like the $30,000 pig, right?)