An identical house can sell for $25,000 in one park but $75,000 in another park 30 miles up the road.

Back when copper thieves were out stealing wire, plumbing and looting HVAC units they'd typically hit empty units. 

Some points about me and this property:- it consists of four 1-bedroom apartments - rented to young professionals- this is B property in a B neighborhood - current rents are $2300 ($550x3 and one $650 - the $650 is the newest tenant and the apartments are identical - so it sounds like the rents can be increased in the other 3 upon lease expiration)- it's listed at $139,900 and has been on the market for about 3 months- my calculation on this property is based on full asking price and current rents- The COC ROI is misleading based on the way I did the inputs -- the only cash out of pocket will be closing costs which I've been quoted to be about $7000  out of pocket. 

I plan to hold for at least 5 years.This is an early-1900s home with three identical 2 Bed/1 Bath units.

Isn't there something in those online programs that require people to verify their own identity?

And last, how do you confirm the tenant's identity - at application or at lease signing?

@Simcha Davidian Our situations are identical.

But before they get it rented again, the copper thieves get there and rip and strip all plumbing, all wiring, destroy the AC condenser unit and all in all cause $10,000 in damage, which the owner needs to pay to get the house re rented and they often pay someone to put the house back together again to go into a quick placement of a new tenant and get back into scenario #1 or #2 again.Along about the time the other $15,000 in reserves run out, they decide they have to sell, but the house that they paid $15,000 for has all the damage to if from the first or second break in and is no only worth about $6,000 . . . so as one of the first reply's said . . .as a new investor going into an out of state market with $15,000 to buy a house  . . . at least in Kansas City . . . save yourself the heartache and head ache and set your money on fire.Or save it and do something else . . . . 

There's too much identity theives out there to expose even one digit.I wonder if they'll last 10 years on that home. 10M is nothing to these guys, and no luxury cars?

. :)But get a second opinion anyways, overlays mean that not everyone calculates self employment income identically.