The numbers make sense on paper there and hoping it pans out.

@Alexander Felice how has that neighborhood panned out for you?

By those numbers it could be a good flip or a decent rental if you did less work to make it rent ready.Just making sure im not overthinking it and missing something, just seems like this type of deal is a myth these days.. so my guard immediately went up.. because its like a 1.5x deal if it pans out when i got to view it today.

And he was putting a lot of time and energy into underwriting and he rushed on a recent HUD deal I was going to bid on (that never panned out).

@mau pan not sure how the laws work in pa but in Georgia you legally own the property the day of the foreclosure auction even though it can take several weeks or even months for the attorney to prepare and record the deed.So I always immediately get insurance, put utilities in my name and if it's vacant, get physical control and change the locks.Regarding the possibility of leaks, I always ask the water company to put service in my name, unlock the meter but leave it turned off at the meter.You can the turn it on yourself with a curb-key or a decent pair of pliers.

But if you plan on holding for 2-3 years and are unsure how things are going to pan out, then avoid it. 

I guess I'm supposed to enrich him and the seller buying a half a million dollar property without even looking inside.Inspection panned out OK so far, but I won't have the full inspection report until tomorrow morning.Bail while I'm still in the inspection period or move forward?

I have called the state\epa and discussed what is needed for operation of treament plant, confirmed the certification and validated all but rent roll.Barring rents panning out and with the possibility of rehabbing and renting the existing vacant 4 units this appears like it will cash flow well and  have some significant upside with 10 more lots to be filled potentially. 

If house hacking doesn't pan out, we are also looking at buying a small multi-family (again 2-4 units) in several areas, including Sacramento, CA; Reno, NV; Everett, WA; Tacoma, WA. 

Anytime I force anything it doesn’t pan out good.