I looked into the maintenance option years back to discover a trend of:  apx. 8% monthly fee which only included rent collection (everything else from maintenance to turnovers etc, extra, and poor reputation on repairs.)

@Florian N.At an upset sale, what @Ben Corby buys is the fee simple interest in the property subject to any existing liens including Ocwen's mortgage.

One of the biggest factors in successful flips is building a strong team: contractors, agents, lenders, and property managers. 

@Stephen Fleming your cashflow probably won't be what you think it will be:(Have you factored in the new property taxes at homestead millage rates?

@Robert Quiroz I think all of the factors you have listed might contribute.So I’m not going to comment on that but I am going to comment on an assumption you made.If 85% of rents are below market on deals you underwrite then those contract rents are probably THE market rent.You can’t just go based upon area median income to rent ratio.First off urban areas are oftentimes street by street, block by block.

The right attorney on their side can put you in a position with legal fees and everything else until you are just forced to settle.

Vacancy and maintenance factors should be higher than for Class A or B.

@Jacob HripWhen paying with cash, you have fewer closing costs (no lender fees) and fewer holding costs (no interest payments).

So, we require a nonrefundable Retainer Fee for 90 days of our time to find a rental property.

Eventually, I realized that if I kept waiting until tax time to organize my books, I would never escape the stress (and extra CPA fees).