Apologies ahead of time if this has been posted. 

I'm comfortable with the obvious #s (ROI, yield), but my concerns are (1) figuring out whether the house is "on the right side of the tracks," (2) if there are any big ticket purchases (e.g. roof, water heater) that are required or impending, and (3) what the local economic prospects look like.  

Barry I apologized for getting back at you after 2 years, I would love some help on running a preliminary pro forma and yes I believe it works financially.

I have absolutely no idea how to get started or even what I am doing, I apologize in advance.

Apologies in advance for the winded response.Your strategy is not a pipe dream - I've done this twice and am currently doing it again now.

You can do so privately and I'll come back here and apologize. 

My apologies Matt, yes Sir, I misunderstood you.

Apologies for all the questions, I really want to make sure I am heading in a successful direction to get into house flipping later on.

Their apology is not accepted.

If this question is not in the correct place I do apologize.