Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 A fix-and-flip project purchased off-market from a tired landlord involved buying a distressed property with significant deferred maintenance.

You can refinance into a FHA 203k or like @Jason Wray mentioned you could even use a Fannie May homestyle renovation loan as well!  

Is this a person who is, from here, going to turn their life around from the desperate situation that they find themselves in right now, such that they are willing to take a Subject-To deal? 

That 4% cap rate on in place financials is a lie.  

A legal duplex will have everything separate.  

@Danielle Levy a lot of questions regarding your accusations:1) What are the average Days On Market (DOM) for rentals in this "hot" market?

Or someone went camping and got rained out and had to put everything in the dryer when they got home.There are some really cheap motion sensing cameras these days- it might be worth setting that up.

While I’m new to being a real estate agent, I’m not new to investment properties.

➡️Develop a strong team and business structure.

HIWe are Canadians and have been investing in the US for 8 years now We have learn a lot from early mistakes  and are more then willing to shar what we have discovered with anyone who wants to chat.