Now there is no privacy right in garbage.

Stop listening to this garbage and learn!

Neighborhood is a nice, middle class area.Listed as short sale on MLS for $60,000.Market rent in the area is $1000/month.Assessments are $2,364/year.Taxes are $1,354/year.Insurance is $600/year.I estimated maintenance/cap ex in addition to assessments to be $1,000/year.I estimated vacancy at 5%, or $600/year.At 20% down, my principal/interest payments on a 30 year loan would be $250/month.Water and garbage are paid out of the assessments, so that is an additional $0.I will manage the property myself.

Also will items like non working garbage disposal or a dryer not vented prevent a FHA loan from going thru?

They abandoned the house without telling us, leaving a refrigerator/freezer full of rotten food for us to find nearly a week later, and the house was filled with garbage.

Trust me, this is a garbage deal.

Maybe you've found a short cut that cuts through all the garbage.

I think this is a rich mans game, if you have a great space near major roadways it can be attractive for heavy construction, garbage companies, big landscape companies, ect, however if your tenant leaves there is not an abundance of 'industrial tenants' the same way there are people looking for an apartment to rent.

Purchase price $17500 in cash- $105 Title search- $100 city engineer fee- $500 attorney fee- $125 agreement papers- $75 mechanics lean draft/filing- $240 1/2 transfer tax- $500 tax split- $165 garbage, and other misc fees... $1810 closing costs which equals 10.4%The $165 is a number that I had to come up with as the spreadsheet didn't equal the actual costs of $1810. 

The schools are garbage and the city is getting invaded from Detroiter's.