And can I get away with only getting permits on new electric & moving plumbing, but demo,  erect walls myself and things like that?

Lawsuits against HOA, HOA lawsuits again insurance companies, deferred maintenance that makes it not qualify for FHA loans, too many investors make it unwarrantable for loans, too many investors, force you to sell to another investor (investors never want to pay premium prices) and just so many other issues.I would say when your lease is up, sell that bad boy and either 1031 into a different kind of property or just take the cash and run. 

i'm not familiar with the calculator but is your insurance assumption only $100 per month?

This would obviously be contingent on a thorough inspection.Asking price: 1075000Annual Rent: 139kVacancy reported: 5%Insurance: 5900Maintenance: 10kTaxes: 4kUtilities: 15,600_____________________________Total Expense: 35500working on financing this week but I understand I'd be at around 6.5%My biggest concern is DOM and major repairs needed. 

One great example is framing crew comes in....frames up the house, plumbing and electrical crew comes in and does their thing....leaves all their 1/2 finished cokes, Gatorade and beer cans and 1/2 eaten lunches sitting on the framing.   

The only things you need are the dimensions, photos of the plumbing, and a budget.

But they offer audit insurance!

There would be no mortgage insurance and you could use multiple business accounts to increase your income.

So in most cases title companies won't issue title insurance on a tax sale property for two years after the deed is filed. 

And the other reason and unless you get stung on this as a buyer.. unless you can get the title company to up your title insurance if you have a title problem the money you paid to the company that is assigning the deal is not covered . and you get a title settlement it will only be for the amount of the contract purchase price not the assignment fee so large fees are a HUGE risk to the buyer.