This is a coin toss, so if you don't want to spend a lot of time going through and creating the perfect/semi complicated offer just write up your terms as an LOI (letter of intent).

It's short sited to only look at BRRRR as a method to making money while spending all that coin on marketing.

(Obviously cheaper is better but lets go with what is your max price for a duplex with the numbers below).Property details:-2Bed/1 bath each side- 650 sqft each side- On site coin operated laundry (money goes to the landlord)- 1 story- crawl space- Taxes are $210 per month- Newer roof and water heaters- Fully rented at $1,200 total per month (currently low for market...probably could get $1,400)- Tenants pay electric and gas- Landlord pays water- Property will be managed by someone else (7% of months rent. no upfront fee)- No remodel or work needed at purchase.I look forward to everyone's thoughts and suggested entry point for the purchase.

Well this is the other side of the same coin as it pertains to wholesalers: They make their money when they sell, high.To flip another REI maxim that I've seen in a few recent forum threads: "If you haven't insulted a seller with a lowball offer, you aren't a serious RE investor." 

Check the public records, what liens are on the property, what violations, back taxes, water bills etc.If buying directly form the seller (using an agent), make sure you have a lien and title report to protect you from buying a property with unwanted liens or judgement s that will have to be paid before getting good title.Other ideas for you that may help you understand the auction business better:Contact auction companies (always talk to the principle of the company).Do some research of that company; what do they primarily sell, stuff (assignments), antiques, coins, real estate, foreclosures etc.attend their auction, get to know themAt my company we have auctioneer associates, their job is to run leads and to create leads that we can sell at auctions.

If you have a stack of golden coins and pay cash for properties, then they should all cash flow.Mike

On the other side of the coin I understand that realtors and investors have 2 completely diff mind sets and are known to butt heads from time to time.

There is another side of the coin, that is most investors hope to break even on their first (few) deals.

Its a coin toss!

I was thinking I could put a coin operated laundry there or convert it to a studio if and when my income permits.