What I have learned is the usefulness of the lead-generating sites is very market-specific.If I were to estimate, in the last two years, my lease-ups came from Craigslist (20%), Apts.com (20%), Zillow (30%) and FB (30%).Most of the responses from my ads come from Zillow (40%) and FB (50%), but most of those leads are woefully unqualified (especially FB). 

I think it's at least 50% chance that you'll lose money buying in an unknown inexpensive market.

@Edward Suess-Hassman you won't be able to cashflow if you buy Class A or B property - unless it is a:1) Desperate seller and you get well below market price2) A major fixer-upper that you can invest your sweat-equity inYour other options are:1) Invest in Class C - but only do if you undertand 20-25% chance of tenant nonperformance and a lot of maintenance issues.2) You invest in another part of the country.DM us if you have more questions.

If you do not bid it as a full gut rehab including removing the floors and joists, good chance you can lose $.

But as I mentioned, IMO you dont loose a whole lot by having it and stand a chance to gain for little extra cost.

Closing costs also very per lender so I would recommend asking for a loan estimate and looking at the bottom line.

Creating a scope of work is the key to estimating rehab costs.

Obviously this is a very rough estimate of the selling price.

You've got a 48% chance of winning that way.

Estimated value is about $404,379 but may not be accurate(it’s the amt that shows on my mortgage companies app).