In my experience in MO, land bank properties are very low priced (these are generally properties/parcels that weren't sold at the tax auction), but they often have significant tax liens on them that must be cleared in addition to the "sale price" AND they require a significant amount of rehab in order for the properties to be inhabitable. 

For all multi-family properties we always handle the lawn care as there are common areas so we can't expect the tenants to care for it.When sending the security deposit claim we state the additional cost that is owed for damages even if the entire security deposit is claimed for other damages.

Make no mistake it isn’t quick or especially comfortable but it can definitely be profitable.As for the rent a room thing in most locales I have to wonder if the additional rent is worth the hassles of dealing with the increased time and liability of multiple tenants in one property but that’s a totally different conversation. 

Additionally, the study must be completed by “qualified individuals” and “professional firms” that are competent in construction, design, auditing and estimation procedures for building construction.So while a specific methodology isn’t required by the IRS, taxpayers must ensure that their depreciation deductions and classifications of property are substantiated with supporting evidence.

.): ~$1600Savings available: ~15-20% of the purchase priceCash to close: ~$34kRehab estimate: ~$34kRemaining reserves: ~$20-25kTo fully fund the rehab, I’d need to come up with an additional ~$15k in the short term, which I anticipate paying back quickly once the rental portion is generating income.

I do have additional coverage for the sewer since I knew it may have issues before I bought the property. 

Additionally, the transition process itself could create uncertainty in the market, making long-term planning more difficult.Opportunities for Private Lenders & Alternative FinancingWhile some investors may face challenges, privatization could create opportunities for private lenders and non-bank financing options.

Additionally you can always write in what was done to correct it and explain that since then you no longer had issues. 

My goal is to grow this business by expanding my investor network and seeking properties that will allow for additional scalability.

I put 20% (54,000) and then an additional 7% of the loan amount ($15,000) since the bank only offered 93% loan of the purchase price.