I figured i could do most of the work on them myself, my step father is a skilled handyman and carpenter, so rehab does'nt scare me too much.

I purchased a property from my father in-law 6 months ago in straight cash.

My father has been in real estate for about 40 years and I have learned a little bit from him.  

My father and grandfather are contractors so i can get some free to lowcost repair work.

The house has been fully redone: kitchens, bathrooms, roof, Windows, HVAC, etc.Sale price: $195,000 ($175,000 cash, $20,000 paid interest free over 5 years to the estate)Expected to appraise at between $205,000 and $210,000Taxes: $2,500    Insurance: $1,300Total rental income: $1,750My father will be financing the $175,000 cash for a fee of $5,000 Closing costs: $3,000   Transfer tax: $3,750   Property tax reimbursement to seller: $1250The max financing I can find is 80% LTV.

My name is Andrew Clifton, my father and I are looking into buying 1-4 duplexes all on the same street.

The father maybe the criminal, the one who trashed the place, and hard to collect from, but the daughter  was the tenet, if she previously passed your checks you should be able to collect from her or take her to court.

I've heard of that strategy in the ABCs of Real Estate Investing and also in The Book but my realtors (my brother and father in law) had advised I did it the traditional way of taking forever looking at it and offering etc.

I'm a father of 3 and a self employed financial advisor for 8+ years.  

My father-in-law lives on the West Side and owns a handful of SFRs in the Price Hill area.