I live in a fairly expensive community , sought after , houses are late 1960's .Price range non waterfront $650K to $750K in good shape .

I've heard some conflicting info here ranging from passive only to capital gains only to active income

@Sean HaranIf you are looking to invest out of state in a BRRRR the Cleveland market is a good market to check out that would fit in that price range. 

Home in this price range usually already in good condition/good neighborhood/good everything so why pay 3% to buyer agent right lol and everyone can look at condition from disclosure anyway ...so ; it just gives more competition between different brokerages. 

For $4.00 and a little peanut butter you can set 6 or 7 of the snap ones and check them over the next 3 days and all done.Pros:Cheap, Doesn't leave dead mice in walls to smell for a week before it dissipates, can move out of range of kids and pets, no poison in your house, Quick resultsCons:Kind of nasty to clean up afterGood luck

Nicholas actually you can pick a house in Detroit in the $50k to $70k range then in Zillow flip the search to rental your already in the 1-2% rule for renting.

Even if the soft costs and settlement costs on the exit are included, why is there a $500,000 range in what the gain might be? 

I've done some research into the market potential for renting out the property and it seems we could expect to fetch between $1,000 - $1,100 per month in rent, which is promising.Regarding the property's sale value, comps in the area indicate a range between $220,000 - $260,000.

I know this is bogus and I have sufficient documentation to prove so I am not extremely worried about that.

That's not secured by property, but backed by equity in a range of businesses.