One is strictly investment, where the neighborhood/location is not important just the potential for upside and low cost living.

I left numerous contact me letters to speak to the owner to discuss options and potentially cash for keys.

If you were entitled to those lawyer's costs your lawyer would have asked for them in the lawsuit because a judgement gives you the most ability to potentially collect that money back from the tenant. 

If you can do a renovation loan with 203k or a homestyle loan to house hack a 2-4 unit multi-family, that typically has the highest potential for equity gain with the lowest cost.  

I generally know what that means but I don't know if there are any potential cons with this situation.  

Once the renovations are complete, the property might appeal to owner-occupants or investors, and you could potentially recoup your costs and free up capital for a more profitable deal.

When analyzing potential investment opportunities, one thing you can't afford to overlook is projecting those sweet returns.

Breakeven Analysis: I’ve read about calculating my breakeven occupancy rate, but I’d love to know more about how others in rental arbitrage set up and interpret this analysis.If anyone has a process or checklist for analyzing potential arbitrage properties, I’d really appreciate it!

Start building a network of potential investors that are interested in your investment thesis.Also, what is your edge?

.: @Travis Boyd you’ll lose more in interest rate increases, potential property taxes increases, realtor commission and other transaction costs than you’ll pay on any future cap gain taxes.