I’m a local Pittsburgh Wholesaler and ex Army Vet.

These are generally specific liens, you can work payoffs with general liens as well, an ex-spouse may accept less for a release and buy their interests. 

Yeah, the cap ex is only one of five factors.

The cash flow is only 5k/month (not including cap ex, maintenance and vacancies), but it’s enough to pay for my kids in college.

I am NET cash flowing just over 1k (includes maintenance, repairs, cap-ex, vacancies, utilities), which is pretty good considering this is in SoCal.

Hi, Jaycee The deal makes sense for me after accounting for all expenses including vacancy, cap ex, and repairs.

I have one of my ex-homes in my portfolio.  

I tend to use 8% for vacancy, 5-10% for repairs depending on the condition of the property, and 7-9% for cap ex.

It is a good deal.If you have a cash neutral property, the tenant via the rent they pay is paying the property tax, insurance, mortgage (principle and interest), maintenance/cap ex, vacancy, PM, and misc.  

I guess the hard part becomes understanding the risk in these investments while having decreased information and control (ex: in say a syndication).