@Cole Starin What type of take out financing did you line up to payoff the private money and get into long term perm debt? 

Where is the income tax of 49% here?

On the other hand, if you're aiming for long-term rental properties, getting prequalified with a lender specializing in traditional loans or DSCR (Debt Service Coverage Ratio) loans is key.

My mistake for not inspecting the property beforehand. Paid 12800.based on google mapsThe property is a mess. Need to clean the junk out of house .. hoarder . Bathroom and kitchen need redone. Large tree in back is de...

I have gutted to the studs the last 5 properties I have bought from tax/foreclosure sales in this county and this one is not far from a full rehab. 

And how much is your debt service, around $6,500? 

I had no idea who we were working with as I was lead to believe it was one of his clients from his tax business.

This has also allowed us to provide some excellent incentives for our investors, locking in long term debt currently at 3.75%  through our in house financing program.

I've been knocking on doors, there is one that seems like it's abandoned, however despite finding the owners name from tax records I cannot seem to get in contract with them to make an offer (despite trying x, y and z). 

Honest... not great but we had other tax reasons to get into them.