these days buying any free standing SFR with rents much less than 1200 a month is simply not enough Gross revenue to run the railroad.. 600.00 rent on an SFR your going to lose your rear end through cap ex and maintenance.

It’s advisable to consult with a tax professional or financial advisor to determine the most appropriate approach for your circumstances.

How you manage the investment determines the returns, and you don't have a track record to show that you can manage well.It's possible, but it's going to be difficult.

Financial freedom goes beyond simply replacing your current income—it's about sustaining your lifestyle for life.

In Metro Detroit area, police will not remove these types of occupants (they are afraid of scamming landlord having police remove legal tenants), calling them a "civil matter" forcing landlord to start court eviction process. thats a good question Drew.. but I bet if the police are aloud just a little bit of fact checking and do police work they can determine the fraud very quickly.. 

Some sellers may not care and those that are in protected class's IE non english or simply not educated might still get taken advantage of..

But it's what my thoughts are and determines how we will operate and spend our money.

I know that - but what I was thinking was simply: well, if the housing authority will pay $1,550 for a 3 bedroom, why would any landlord in the world list it for less?

We have made the decision to list the place for rent and then simply communicate the situation with the tenant. 

Second, I look at listing photos and Google Earth Street View to assess the condition further.Third, I determine a rehab scope and run it by my agent.I have my agent, inspector, and contractor walk the property together.