This property in Anderson, IN had strong potential due to its low purchase price of $60,000 and a promising after-repair value.

You have to be super cautious though when looking at opportunities since some may come with unexpected circumstances such as major repairs, fines for illegal units, etc.

Financial Freedom Network I laughed at -- after reading the agreement, no comparable value for that monthly price -- 3 or so years ago, if value has changed now, my time-based disclaimer is as aforementioned -- and Legrand would do well to disconnect FFN from his name, as I believe FFN is now out-sourced, whatever.I empathize with you , Joe and the other responders, but when I read Legrand’s, and most of the other guru’s, contracts prior to trying a teaser product, it clearly stated in the agreement that if customer did not want the upgrade service for which the teaser/free product, free video, whatever, was being given away, then customer must cancel within the stated period of time, which almost always range from 30 to 90 days [60 days is becoming more common, as more folks forget to cancel]So long as terms to cancel are clearly stated prior to contracting, I don’t find it unethical, -- and real estate gurus have merely adapted a teaser or rebate marketing technique used in most every industry -- recently even Chrysler cars [try our minivan for 60 days!

@David Cherkowsky, the lender will take the full rental income reported on the tax return, for that property, subtract it from the total expenses, add back depreciation, property taxes, mortgage interest, home insurance, HOA(if applicable), sometimes repair expenses(must be documented), divide it by the total amount of months the property was in service for that year (THIS NUMBER IS ON YOUR TAX RETURNS, SO MAKE SURE YOUR ACCOUNTANT DOES NOT PUT 12 MONTHS), and subtracts it against your total monthly mortgage payment.

What most people fail to realize is that most of the turnovers at least the ones I’ve seen the house will need some repairs before a new tenant is placed.

., get them in place before discussing an increase with the tenant because it's much easier to get inspections and repairs done when the tenant cooperates.

This is opposed to saving the $50k-60k to cover major repairs and the extra $30k to cover unexpected emergencies (job loss, health problems, etc.)For context, we have another rental that we bought in September of 2021 with a conventional 30 year at 3.125% and purchase price of $410k.

I highly recommend you study this, practice it, and apply it.https://www.biggerpockets.com/blog/rental-property-cash-flow...Property Details:Type: Single-family homePurchase Price: $289,900Down Payment: 20% ($57,980)Loan Amount: $231,920Interest Rate: 6.85%Loan Term: 30 yearsMonthly Mortgage Payment:Using a mortgage calculator, your principal and interest will cost $1,515 per monthRental Income:Average Rent for Single-Family Home: $2,171 per monthOperating Expenses:Property Taxes: $300 per monthInsurance: $100 per monthMaintenance and Repairs: Budgeting 5% of rental income ($109 per month)Vacancy Rate: Assuming 5% vacancy ($109 per month)Property Management Fees: If outsourced, typically 10% of rental income ($217 per month)Total Monthly Expenses:Operating Expenses: $835Mortgage Payment: $1,515Total Expenses: $2,350Net Monthly Cash Flow:Rental Income: $2,171Total Expenses: $2,350Net Cash Flow: -$179 per monthConclusion:In this scenario, the rental income of $2,171 per month does not fully cover the total monthly expenses of $2,350, resulting in a negative cash flow of $179.

Then the inspector will provide a pass or a list of items that you need to repair.7. the inspector will decide what the rental rate will be for your unit. 

As I have not set foot in that house nor tried to make any action to live and repair the property per adverse possession.