I am a buyer - my buy box is 200k ARV, all in $150k after repairs, rents for $2000 per month.

The buyer got an affordable home in exchange for doing the repairs himself (sweat equity), I got a cashflowing note, and my private lender got a steady interest payment.

They didn’t completely destroy the house, I did keep most of their security deposit and used it for the repairs, along with some of our own cash.

A lot of wholesalers lock it up at 75% - repairs and then try to move it at 80% - 85% - repairs.

During those 10 days, if they find issues they want repaired, compensated for, its negotiated.

By adhering to our standard procedures, we’re able to maintain consistency and fairness across all tenants, avoiding any perception of favoritism.Thanks again for your feedback!

You're using a company to manage tenant phone calls/inquiries and then send in vendors for repairs.

If you can rent 3 units for $2,000 you are close to breakeven.On the plus side, you will have a highly attractive asset and several decades without much cost of capex and repairs. 

I use $2500 to pay expenses and save what's left in a fund for repairs etc...So I can count on approx 5K/month in gross income. 

.- This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.