It is not low cost.. you need 7-8 rooms per house to make it decently profitable. 

How much do you expect the rehab to cost?

Over estimate the costs and not need them?

Instead they go about it a** backwards and add more red tape and more complications costing the city and it's residents more money

We're incorporating the prop taxes & POS costs into our overall calculations.

Lets say its $270k and you are financing $220k and it takes a year at 12% thats $26k in interest plus other costs etc.

If you are buying loans then its more complex as you have discounts involved, monthly cash flows, outflows (like servicing costs) and unknown exit dates.

Was cash invested including rehab costs?

Consider house hacking with an FHA loan for lower upfront costs or explore creative financing options if capital is limited.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.