IMO, even at $1.25M, and assuming you can improve occupancy and raise the rents to the low end of the market range (after doing the rehab), I think there's a deal here.

I'll looking forward to your immediate response.Please resolve this issue ASAP, our tenants have already submitted the rental payment to your Appfolio account $49,987.00(attached report), however it is NOT showing this amount in your account at all, not even mention transfer the fund to our BOA account.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

A HUD complaint can cost thousands in defense, even if you are found innocent.

This was my first investment property and I had a poor inspector who missed all the electrical and even though the roof had about 5 years left my insurance company made me do that.

Even that manager needs to be really hard worker and skilled in so many different areas...sales, marketing management, hiring, firing, reservations, computer skills, and more.   

I'm not even sure what I did that needed to be paid for.

>>For purposes of taxes, consult with a CPA to confirm this would work for your situation, but you could have the LLC be treated as a "disregarded entity" and thus, even if you and your wife are members, any profits/losses would "disregard" the LLC and go directly on your personal returns. 

Durham is even looser.

Should I buy it and take  500-600 less profit per month knowing I can sell it for a large profit as is or even more if completely remodeled?