Your long-term income depends on whether the investment city attracts new companies that create replacement jobs with similar wages and skill requirements.

What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

Purchase price: $74,000 Cash invested: $25,000 Sale price: $145,000 I acquired a property from a couple needing to relocate, with significant repairs required.

As U.S. citizens residing in Europe, we are required by the local tax code to hold the property in our personal name.

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

Hello Adam, The way I draft our contracts in Pennsylvania I include a clause that requires the tenants to carry $10k in personal property and $100k in liability.

In my experience in MO, land bank properties are very low priced (these are generally properties/parcels that weren't sold at the tax auction), but they often have significant tax liens on them that must be cleared in addition to the "sale price" AND they require a significant amount of rehab in order for the properties to be inhabitable. 

What are your requirements?

The last few years have been great for investors/homebuyers who bought pre-con, but looking back to the few years after the 2014/15 boom, this wasn't the case, where many had actually committed to buying a property that wasn't quite worth what they signed up for closer to closing because the appraisal weren't matching the contract price, requiring a cash top-up.

@Jaycee Greene  they require a non refundable deposit and give 48hrs to see proof of funds