Any luck purchasing 10k "Condemned" & "Burn Out" Homes?

Any luck purchasing 10k "Condemned" & "Burn Out" Homes?

Any luck purchasing 10k "Condemned" & "Burn Out" Homes? 

Typically homes in-between tenants, or a new purchase with intent to have renters within 30 days this is allowed. 

Turbo tax will prorate your depreciation for you when you input the purchase date but you need to input the land value (1/6 your PP in my example) and what % the rental is of the dwelling. 

Purchase price: $2,000 Cash invested: $60,000 Sale price: $91,000 Bought this one from WCLB with the intention to fix it and sell on market to homeowner.

Any luck purchasing 10k "Condemned" & "Burn Out" Homes?

Quote from @Jeffrey Bourque: Hello All, I am new and this is my first attempt at purchasing a property with the intent to create monthly cash flow.The property: Triplex Listed at $140,000 - Total monthly rent income $2,150 - Tenants want to stay and are all willing to sign new leases for 3 years - 8 beds 5 baths and 3,500sqft livable space on a 4,800sqft lot - Heat and electric paid by tenants and water trash paid by owner $180 month - I have managed to talk the selling price down to $105,000 with a kick of $10,000 for closing and commissions so $115,000 all in - Building is in fairly good shape according to pictures and questions but have not done a inspection yet - some general maintenance repairs are needed according to the seller but nothing that seems to bother the tenants. - Taxes are on the higher side at $6,000 yearMy Numbers: $115,000 putting 20% of my money $23,000 and finance the rest with total expense of $1,834Monthly expense numbers: Future Maintenance 13% $273 - Vacancy 5% $105 - Property Insurance 5% $105 - Property Taxes 23% $500 - Property management 10% $215 - Office/Travel/Legal 4% $84 - Mortgage 26% $552 - Monthly Cash Flow - $316 per month or $3,792 per year so Cash on Cash = 17%I think this looks like it is a deal worth doing and I also believe I can bump the total rent up by $50 each tenant which I think make it even better.

This is a quick calculation that we can do to see how much house you can purchase at 100% financing if desired.

Quote from @Trevor McCormick: Hi All, looking for some advise or mentoring on purchasing a short term rental property in Kissimmee Florida.1)Is it still a good investment with the current prices?