Take a look at this beauty...Here are the details...4-plex located in WisconsinPurchase price: $55,000 (75% LTV @ 4.625% interest 30 yr amortization)Rehab Cost: $25,000Initial Rent Roll: $440/monthEstimated post-reno rent: $1,700/monthI plan to refinance the property once we have it fully rented to pull out the money we put in for rehab. 

The beauty of ATL is that we are experiencing a ton of growth and solid appreciation too.

Came out beautiful.

Place looks beautiful.

That's the beauty of the internet!

It's a beautiful thing.

I would make sure 2 or more people go in at once so that there is a witness given the nature of this tenant.

The roads are also paved (a bit of deferred maintenance there), also the homes are laid out sideways like stick built homes, so it's going to look beautiful once it's rehabbed.The only "risky" thing to me is the sewer is on septic.

Ultimately with the appreciation v. cash flow debate, what you truly want is IRR aka both.This deal swings way to the side of an appreciation play, which is enormously risky AND at a time when the market is pushing new heights.I grew up in California and witnessed the power of appreciation.

When our neighborhoods are deteriorating or just plain unsightly with overgrown weeds, cracked sidewalks and chipping paint, it's deeply satisfying to buy these run down eyesores and turn them into beautiful productive homes that people can be proud to raise their family in.