That might be a stretch though, if the rehab is too extensive.Would it make sense to first invest in a flip (or a few?)

Louisville I can tells you that 1-2 inspections can stretch the rehab out an additional 2 months which eats the brrrger before you can.

And my budget is already getting stretched pretty thin. 

Pro forma, the deals look great, but that's a far stretch from how they play out.

They have to have a certain number of data points so they will stretch outside the parameters to get data.

I don't have much to add other than running numbers from a few different standpoints such as, realistic, and very conservative, to what seems like may be a stretch, I like it because you get a range of numbers and if none of them work, it answers a lot of questions, if some work you may have to do more research or be creative in other areas such as financing or strategy.

We have heard this a handful of times as the management companies get stretched too thin.

I only looked at short sales/REOs and they were low to mid 200s earlier in the year but I think worth it if able to stretch.

Memphis is number 3.  40K might be a stretch for an "all in" number, but returns here are good.

Mike, saying that OC will be the same as public housing is a stretch, an opinion, the're no more alike than the GI Bill and OC, and the GI Bill was met with the same heated debate as the healthcare issue as being a social program, now it's widely accepted as a benefit.