So we shall elucidate five myths and truths about investing in them.Myth 1: Distressed Properties Are Always Money PitsMost people think that distressed properties require major renovations, which wipe out profit returns.

So many "investors" bury themselves in complex, expensive situations to protect themselves from some unknown threat to their non-existent business.Figure out if you have any shooting skills (or even enjoy the game) before spending money on $600 Nikes or an indoor basketball court. 

Just curious.If you are going to pay a PM, just be aware that you might not make any money on it.I just use a spreadsheet.

@Yooni Choi managing from out of state (OOS) with ZERO previous landlord experience - probably won't go well.You WILL make a lot of mistakes that will cost you money.

Jonathan, The tenant does not currently owe any money.

That's where good people live, and good people make good tenants.But before you put money down on a house, I would find a quality property manager.

Hard money loan How did you add value to the deal?

It might be wise to sell it just from a management standpoint and reposition the money into some index funds and maybe another property in NC.

I financed the acquisition of the land with personal and private money.

I did my research and requote what would benefit both me and the investor, below is the Finalized CORRECT format of the proposal:Listed price on the property: 459,900MAXIMUM amout of money down on the property: $380,000Method of Payment: CASH OFFER from Investor.