Those would all be upper middle class properties with access to a lot of night life and high income tenants, and the cost to buy for the most part would be a lot less.Best of luck to you!!!

Leave on foot or in a body bag.

Keep in mind if the description/pictures show the home needed a lot of work, then the price will be lower than normal, and alternatively, if the description/pictures show the home was completely renovated, then the price would be on the upper end.

My math with your numbers would be more like this:Acquisition:Asking: 290kRepairs: 15k Total Acquisition: 305k Revenue: 28,800Taxes: 4583 
Insurance: 1800 Cap ex: 2400PM @ 10%: 2880 Total: 11,663NOI: 17,137 Cap Rate: 5.6% Cap Rate w/o PM: 6.56% Not a crazy return but pretty normal to see in Miami if you're purchasing in middle to upper class neighborhoods.

Had some cash saved up from working a full-time job in logistics and a part-time job teaching tennis, and bought a fixer-upper for $29,000 with a tenant in place at $700 (sounds like the $30,000 pig, right?)

The poorer areas will struggle, while the middle/upper class areas will be just fine.

So, I've done a bunch of different kind of fixer-uppers that required NO carpet and paint.  

@Dustin Beam Yeah, gambling is a correct word:) Especially for fixer upper.

I would label that a failure.For me & my area: A = prime zone, wealthy housing, white collar and high upper middle class blue collar.

My husband and I are currently house hacking a fixer upper duplex and getting ready to move on to our next deal.