Ensure you profit is actually worth doing, lenders don't like thin profit margins as they end up with borrowers walking away.

And I hope nobody really believes a marginal tenant will change his stripes over a gift card.

Your profit margin at that total investment is pretty tight (in my opinion at least).If you buy into the 70% rule your max purchase price should be $54k.  

I am ready to buy, but I don't really want to move.1) I could buy with FHA and get lower rates - but then I'd have to move.2) I could buy with conventional - but eat into my margin, and my monthly rent wouldn't go towards paying down a property.3) I could talk to my landlord and see if he would be willing to do a Rent to Own a.k.a.

Those are places where it is next to impossible to to use any rule because margins are so low.

This would require a margin account.

But I met a father son team at investor meeting and they are buying up city houses and rehabbing them beautifully to rent or sell to another investor..Its win win as homes are being rehabbed nicely and there is a decent profit margin because these homes in the city are low cost to begin with.This particular multi family was a Craigslist ad..Thanks for your reply

Cyrus flipping houses in some areas has razor thin margins now.

We could partner with fellow REI group investors who have flipped, but with what we want to invest, the margins would be too small. 

And, I would build in some margin for vacancies.