I’ve seen cases where the lender filed the deed in lieu, then when the borrower threatened suit offered them a cash settlement to forgo litigation.  

Purchase price: $171,000 Cash invested: $29,000 Small 600 square foot cabin tucked away just outside of the quaint city of Ellijay GA.

Purchase price: $101,000 Cash invested: $25,268 Sale price: $202,000 This was my first ever solo project.

I was looking to put 80k cash into then refi afterwards and possibly getting 130k. 130k on mortgage would be close to $800 only leaving $200 in cash flow each month. 

Contrary to most business lending, the REI industry has a lot of "non-bank" lenders that provide attractive loans that can lower your cost of capital and improve your profit/cash flow. 

Such a situation is recoverable if there is enough time for a market recovery and the cash flow is at least break-even (or there is enough reserve cash to cover negative cash flow until it can turn positive). 

I am researching my first deal in town (a foreclosure), and hoping to slowly but surely acquire properties for cash flow and retirement security. 

Also, you didnt mention any financing costs, was this built with cash or do you roll that into your cost of construction?

I plan on getting a property every year until I retire if I can find a good deal that cash flows positively.I have a very close friend whose stationed in Columbus GA whose a real estate investor and owns rentals there!

@Brett Coultas if you're a newbie, you want to be careful of an "investor friendly" agent selling you something they truly don't understand:(95+% of agents only know how to handle owner-occupied transactions - you can verify this by asking them calculate ROI for you or Cash-On-Cash!