@Amar PravinWe have a place on the lake in Alpena, Michigan.

Out by the lakes a polo shirt, khaki shorts and flip flops works.

It used to be Lake Sunapee Bank and in years past they could do 20% down. 

Go to a park, go fishing or to a lake for a day, take a picnic lunch, go for a hike. 

I have a duplex in Silver Lake, each unit has gas tankless. 

Set up business page and you can advertise the rentals there and then share them to local facebook groups like "Lake Suzy Classifieds" or whatever.

Auction.com has an estimated ARV of $600k, but we are taking that number with a huge grain of salt since any comps close by seem to be more around mid 500s.A quick plus delta of the situation as we see it:+ great location (corner lot, water front on a small lake, good neighborhood with very nice neighboring properties, close to main road).+ REO with a motivated bank seller (assuming they will be dropping their minimum each time they put it up for auction?)

Some potential cities include: Phoenix,AZSalt Lake City, UTDallas, TXColorado Springs,COFor those who follow the 1% rule, is it impossible to find DEALS in a well established market? 

I have been aggressively searching for my first multi-family unit property and live in the Salt Lake City, Utah market.

Positives of the House: Amazing updated high end kitchen all stainless steel appliancesNew RoofCan lighting in all bedrooms, living room, and kitchenHigh End basement bathroom includes Jets in shower wall and Heated tile floorNew Central ACNew FurnaceNew HVAC ducting throughoutNewer Vinyl SidingNewer guttersMany newer vinyl windowsNewly wired for gigabit speed ethernet in all roomsOpen cell insulation on second floor roof (solves all cape cod style home problems with ice damming)Nice landscaping both in front and in backGreat curb appealFenced in LotFull BasementOpen concept living roomVery low taxes compared to rest of Lake County IllinoisFinished will have 2 full baths, 3 bedroomsNew copper plumbingNew Natural Gas pipingAll Capital Expenditures are taken care of!