I’ll definitely rework the numbers with your suggestions.

@Kristy F. look, most people posting replies have no clue how SF RE works ;)To your situation:1- no chance you can evict over leaky toilet.

@Wayne Brooks@Bob Maleckiyes if you follow this out to its logical solution.1. buy the note  foreclose and 50 people show up to bid on it.. overage goes to owner of home.2. re work it  get a nice return on uber safe first position note  ( not a bad thing)3. and about the only way I guess you would capture all this equity is to get a deed in Lui  but who is going to sign over a home with 200k plus equity in it.. would they not just fire sell it first ?

Their rehab of a unit generally runs $700 at most for new appliances, flooring, paint, etc.The common areas, landscaping, and exterior have been upgraded and re-worked in the last six months.  

It’s almost always a fake selling point the quality varies and I always expect to rework it. 

We woiuld rework floor plan opening it up, reface the fireplace, open the kitchen area to great room, make the downstairs bathroom larger by taking out shower (no need for it) Put in large pantry (kitchen has no storage).

There are lots of resources (sketchup and the like) you can use for space planningIt will make you a vastly better investor in the long haul.If you need experience to get started go work with habitat for humanity, and learn how to build a house, which will teach you how to rehab them.Obviously hire out electrical work or any plumbing that involves, major reworks, but otherwise you will benefit from knowing how to do all this stuff

It will need to be reworked to get at least a bit of positive cash flow. 

RE works well, but only if you buy at the right price.You can also go directly to management companies - call a few in your target market, and ask if any of the owners they service are interested in selling.

The concept had to make sure, and the details had to be re-worked, but ultimately it hit mass adoption.