Used all the money plus brought in 20 k to make the rent low enough to make sense and be safe.

I live in Atl and I'm struggling to find many lenders that offer FHA 203(k) loans, non streamline.

He is an expert in SDIRA/401(k) compliance.

 Hey guys, what would you do if you had 50 K cash? 

. $108,000 Per Year so no way to afford that up front.Working with broker on Interest Only Loan for 5 Years - Payments about $61,500 per year.Current owner paying about $50,000 K payments.Property would baloon in 5 years.Is this a viable option and then refinance after the 5 years ?

CA OR and WA have very specific laws as it relates to what you can and cannot do with a homeowner in foreclosure you should read those before you do anything.. they have severe penalties for violators..Once you figure what you can and cannot do legally.1. as Wayne above state Credit is trashed. your bringing no value there In West coast Purchase Money Deed of trust foreclosure  credit is trashed and bank has no right for a deficiency judgement. 2. 

That $275k could be worth $500 K in 5 more years. 

Dan K and Russell, your insight is very helpful. 

Don't you think you should be getting closer to 6 K per mo rent?

Doesn’t even look like a good deal to me . 130-160 k and the thing only gets 1300 in rent plus it has major foundation problems and you got tenant drama on top of It .