. ($3936 for the year)- Pay the monthly mortgage obligation: -$3380/mo.So for Year 2, that leaves me with a net cash flow of $23/mo.In order for the deal to work, I'd have to be slim on my reserves (only reserving $369/mo.) and have to find a nimble PM company (for 8% or less of monthly rent).

Now I'm currently looking for my second deal but it's been slim pickings in my area.

You are working a super slim deal one in which you probably won't make much profit if you intend to fix and flip it.Urine is no doubt nasty but don't let it break a deal for you.

Slim pickings.  

The likely hood of foreclosing is slim in most areas.  

And it sounds like there is a pretty slim call back rate- Cold calling all brokers in the area you are interested in and introducing yourself and letting them know your buy criteria hoping they come to you with pocket listings.

When you look at the data that the Cromford Report studies and the information they provide, their predictions of things slowing down anytime soon seem very slim.

Absolutely but if you are truly paying the taxes that metro askes you to pay the margins are slim and maybe not worth it. 

It is a win win.I would agree that the odds of finding someone to owner finance at duplex is pretty slim.

I'm telling you this because your margins are going to be crazy slim, for the simple reason that no one would offer you anything less than 9% interest on 9% CAP. 9% APR on a $1M is $90k before other operating expenses.