@Tim Swierczek Thank you so much for going into detail about the 203k loan.

I'm not an expert just one thing to look at as you plan for going forward.

It sounded like the lyrics to a sad country song...and at our expense. 

We bought are first place for 20,000 back win the ticket was good 19 99 Prince sing that song.

It's absolutely a vanity project that would be my primary residence and likely willed to my kids (their grandparents purchased for a song in early 70s when the neighborhood was legitimately a war zone). 

I found a investment property and have settled on a price. I don't want to pay a realator for a a contact. Does anyone use their own contract instead of paying a realtor?

You need to rise above and prove your worth to both sides.As for going around you, if you're doing it right, they can't. 

My numbers state the only way to get that positive cash flow, from $11,200 Rent, $8,900 Mortgage, would be to forgo any sort of CapEx or Repairs fund, I do know the company has a 0% vacancy rate for the first 2 years, but he also isn't factoring any sort of possible VacRate?

I paid an employee to drive and look at the properties, purchased them at auctions and I paid a real estate agent 2% for going to the auctions to watch my back.

On the one hand, if I fix only the outstanding issues, I'm probably spending about $15,000, and if that's the case, buying it with a traditional 30 year loan, forgoing the hard money/rehab, refinance idea, this is may be a different deal.