One good thing about single guys are no little kids to spill grape juice on carpets or crayon scribble on walls.

I've known at least 2 of my friends who lost everything and went belly up because of banks calling in their loans.You have to think more creatively and rid your business of bank participation.

For buyers just looking to sit on a turnkey property, its perfect, for me its like a squeezed lemon with no juice left to give.

I deal with large housing developers on a regular basis, most of whom use 8 figure loans or more from the banks to do their projects, and none of them went belly-up during the last downturn.

Instead if you have mad money to throw 5% of your worth at it and see what happens then no big deal if the area goes belly up.

It may be a classic case where the previous owner has squeezed all the juice from the lemon (i.e. not updated major components--like the HVAC, roof, basement waterproofing, etc) and is looking to pass on those costs to the buyer, perhaps without adequate price concessions... 

Do I have to belly crawl to replace those pipes? 

The only thing this seems to accomplish is to provide a farm system of cheap properties for the bigger players when the less seasoned ones go belly up. 

@Craig Bell I think you will do just fine.

However, first join REIA, read a lot of books, drink a lot of orange juice with local investors, get to know your area.Don't you dare come on here talking about your first deal @ $400,000.