Love that pink door haha.

I’m tempted to get in for the short term cash flow, but just so I can barely make a profit on a 7 year turn?

I barely have time to turn the places over when they do go vacant.

Many were barely surviving.  

At a $450K purchase price, we would barely break even assuming we could get financing. 

And I absolutely know they can't physically move (they can barely get up to answer the door) so I even offered to come over today and help them sort through stuff and pack and they declined. 

Once I subtract the monthly debt payments, I could be barely cash flowing, if at all.

The bare minimum I'd need it to appraise for is 240,000ish to get my .75 Loan to Value and payoff the original loan (I understand I'll leave plenty of the rehab $ in this deal, still learning).

at bare minimum,  start by providing a written receipt each month stating the amount paid,  any balances owed and their category  ('rent" or "non rent" - it makes a different now)  -  both yourself and the tenant should sign the receipt. 

After many years of barely having any properties listed in San Jose area, when I checked Auction tonight, there are 57 properties listed...I can't believe there are so many foreclosures listed now...