Quote from @Derrick Roland II: "but based on my pre-approval"  This is the most important phrase of your post.Where did you get that pre-approval? 

Run your numbers based on youre required return given what youre likely to have to spend and the amount of headache, risk, and work you have to do.

Quote from @Chris Brewer: View report*This link comes directly from our calculators, based on information input by the member who posted.Hey @Chris Brewer, welcome to the BP Forum!

I’m based in Atlanta, GA, and currently exploring passive real estate opportunities in the area.

Hours spent watching podcasts and communicating on BP do not count.

We have been primarily buy and hold and wanted a secondary source of capital to fund our buy and holds.

This is both a communication and a quality example. 

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.

I Can only realistically get $1600-$1700 a month renting my house based on the market.

In addition to tangible screening such as credit checks, evictions, criminal background, & income checks consider intangibles as well - how well do they communicate with you & how professional?