I mean, here’s my short answer—If you’re new and want to jump in the game, if it was my situation— I’d make an offer below list price, make sure remodel is legit, and verify those suggested rents. 

Hey Christian,I went through the identical situation on my first purchase back in april, tenants were on a mtm lease so after i closed on the property i just had to give them a notice that their lease would not be renewed at the end of the month and that i would also give them an additional 30 days to vacate after the final month was up. 

Make sure you verify that.When I plug in these numbers, my cap rate is at about 7.38%When the $280k is mortgaged, I see about $19 per month per door in cashflow.At a $325k offer, the $255k is mortgaged and brings you to $39 per month per door cashflow .There was no mention about any repairs to for the property.  

If there was a big bill, they will want a lease or closing papers to verify that you just leased or bought the property.My point is that some things MAY be the same from the podcast, but some things are state, city or even area specific.

Michael Greenberg, we setup Google Business our self.Mainly it is verifying with Google that you are a legit business and that your address of your vacation rental property matches the location of your property on Google maps.Google sends a letter or registration card to the address of your property and then you must send it back.Once registered you ask your guest to give you a review on your Google Business 

I would first verify the ARV, than work backwards.

They say the house is being watched and that a shooting occurred outside the house, however have not verified.  

(It looks like there's other garbage on the lot as well)I'll also get on the phone with the county and verify that there's access. 

Fully rehabbed the ARV is around $175 up to potentially 195k if rehabbed well enough to comp with newer builds, but in the condition I assume it is in, the CMA comes out closer to $150k with some nearly identical dated comps sold nearby in the last six months right around that price. 

The the other joker in that deck would be that if those duplexes are substantially identical and there is a sale to you at an obvious discount rate the IRS will be looking for a reason to find cost basis shifting.