Some of them, the really old ones in particular, have the old pipes that need replacing, and heaven-knows-what else. 

He has had 5 months for heavens sake.

Additionally, if done right, those returns can be taxed at almost nothing, which adds to the luster of a single payment (as long as the million isn't taxed to high-heaven, as Russell Brazil stated).

Bank accounts for my income in fees (difference between my requested price and seller's one) can be opened in tax heaven country.

Nightlife and Culture: Between the vintage shops, Cuban cigar stores, and nightclubs, it's both trendy and cultural.Potential for Growth: As more young professionals and businesses enter the area, there's potential for real estate appreciation.Seminole Heights:Hipster Heaven: This area is all about vintage vibes.

If your one of the very few lucky ones and get the tenant from heaven that rents from you for years, Never calls to complain keeps the place perfect ext. you can hit your best case scenario numbers as you posted above.Pretty rare at that price point to have best case scenario...

As I am only with them for about six months, I have not had any issues or emergencies (thank heaven) but so far so good.

It seems like a match made in heaven, because he has an endless supply of money and I have the ambition and determination to find, develop, and profit from potential deals.He's coming down next weekend for a visit and I'm trying to think of the best way to approach him about using his money to finance one rehab so we can test the waters.

Let's see, How about" Heavenly Homes LLC "

did not do any thing In FT Wayne.. though so that one I don't know.I do like the cities within 30 minutes of Indy though.. compared to buying inner city stuff in Indy that can be super challenging to own out of area for a long period of time.. its one reason there is so much of it.. burnt out landlord syndrome is alive and well and its wholesaler heaven in those areas..