@Diego L.That's actually an interesting situation and a case where revocable trust may make sense.

@Travis Timmons Do you think it would be better for me to explain how to actually do it for the benefit of him and others or just state that is is too complicated for him? 

To answer your question, I will use your description as it most closely relates to my definition of what an actual turnkey real estate transaction should be. 

For those interested, a combination of mortgages with no “due on sale” clause, mortgage companies loose due diligence, and title insurers willingness to “turn a blind eye” to practices that wouldn’t pass scrutiny now, resulted in tactics like the “second mortgage crank” which not only allowed investors to purchase properties with no money out of pocket but allowed investors to actually walk away from closing with “cash in their pocket”.

The big thing that determines the price is what actually has to be done and the finishes that you select.I know you said it is a gut remodel but are the floors still good? 

I was actually thinking about that after I posted.

@Clark Harbaugh, Given the favorable tax rulings over the last few years (in particular revolving around trusts and their equaling a beneficial interest in the underlining propery) the IRS has actually been much more lenient (or at least silent) on these issues. 

Basically you find these distressed properties in pre foreclosure, probates, divorces, or just ugly vacant properties. then you calculate the Max allowable offer and if it makes sense you call up the property owner, get it under contract for dirt cheap, then you assign the contract to a cash investor for an assignment fee. this is the general idea obviously it gets more in depth, but its finding deals that you would buy as a fix and flip or brrrr, and instead of actually buying it you sell it to other investors.Ahh I see, thanks for clearing that up.  

The program is neither good nor bad, there's just different pros & cons compared to cash paying tenants.Have offered to schedule a call with you numerous times to try and assist you, but you seem to prefer posting & posting & posting - which will take so much longer:(What are the chances you'll actually invest someday, given how long it's taking you to do basic research?

If mass deportations were to actually happen, it could slightly ease demand, mainly in larger cities, but probably not enough to change rent rates.