If the vacancy rate turns out to be more in the 10-12% range, it's still high, and your numbers won't be as attractive, but the property will still be workable {provided it is not trending up as the result of declining economic prospects in the area}.

Would that not be a workable structure?

Hi Taylor,There have certainly been some great opportunities in the US lately but we are starting to see more workable deals here on the island.

Before I hand the deal off to one of my buyers, I want to make sure it is truly workable. $1k is a good price if we can wipe all liens with foreclosure proceedings but if these IRS liens HAVE to be paid, free wouldnt be a good enough price.

It's not a magic bullet to get the money without any strings attached, but it's the best workable solution out there I could find.

I would rather keep looking for the better deal than settle for the workable, but not preferable one.

What might be my next step(s) in determining if this is a workable deal?

I need to have a workable answer for the agent commission question from folks who do this day in and day out.I searched the threads and did not find a post with this title so felt it was worth discussing this issue head on.

The septic could be an issue however with proper inspection and upkeep this is workable. 

The lower the rent, the higher the percentage you 'll need to make it workable/cost-effective for your PM.