I think the best returns are properties that are 300-400k that can do $60-90k per year in gross revenues.

Michael,Your signature block has the BiggerPockets logo.Are you an employee?

The property produced $48K gross over the past year.  

I’ve had investors that initially bought SFRs in CA and accumulated about $400k - then sold the properties and now are actively buying fixers, small homes and value add properties where they use the $300k to purchase and improve and make between $200k to $300k per year in gross profits when selling a renovated or improved property.

@Scott Trench please listen to people that have been members longer than you have been a BP employee.  

However, if your purchase price was not tied to the mortgage payoff and the law office was not in on it, then I still don't see a fraud only a GROSS error by the law office in releasing that money prior to closing. 

Add on top the expected capex costs that wipe away 3 months to 24 months of gross income. 

I am going to do everything that I can to make the stay go as smooth as possible so that they continue to use me in the future for other employees doing projects in our area. 

Plus the FMR and Section 8 payment is way more than my carrying costs, spec since I buy multi families, so Its not like its decimating my monthly gross by taking care of some place.

If a company provides a specific uniform that must be worn by all employees on a job, then it probably is a legitimate business expense.