Hi Nick, the 25% down payment is typically standard for investment properties.

If you don't know how deep the water is, you may get more than just your "feet wet".Third Lesson.Cheap and discount are not the same thing. 

Water and electric?

Homes are double story standard homes with around 21-24 Squares.

So thats kind of the standard operating procedures in those markets and nothing really sells for full list price..

@Saul Clavijo make sure you understand you will be getting into Class C properties at those numbers.Food for though below, DM us to chat more about Detroit:--------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

This house had 12” of water/ice in the basement... there’s a nice sump pump set up just sitting there with no power...

Aside from the standard BR/BA count and square footage, I always focus heavily on the listing pictures for any comps I pull in my area - finding a comp that's as close to your property's condition and finishes will give you the best apples-to-apples comparison possible.I also wanted to second @Tim Swierczek's input: nobody in Minnesota likes moving in the middle of winter.  

We were able to get standard mortgage financing How did you add value to the deal?

As a sidenote I see people doing this and jacking up the price of the home to seller finance to above market value - if you do this you better be VERY clear with your investors that you are writing a $300k loan on a $250k property as if you do not you can get in some serious hot water later on down the line when doing valuations of the company.