Do you remember the webinar it was in?

I can think of 6 banks less qualified...Remember, Wells Fargo was FORCED to accept the bail out. 

If your worrying about the closing costs a rehab flip might not be ideal for your situation.

I was thinking less than ten years would be ideal.

Correct...and so far, with a couple of exceptions, the ONLY reply on this question that is correct....because it's the only one that used math.I remember all the people in my life, my own and my daughter's, taking math that have said, "why am I learning this...I'm never going to use it?"

I think I remember a special IRS rule that says you can do a 1031 exchange and split it so long as the divorce agreement says you will do that.

You can easily get into a 1-4 unit property using an FHA loan, house hack the units and then repeat.As far as meeting local investors I think there is a monthly meet in the burlington/anacortes areas but I don't remember details.

I wouldn't be able to enforce this in court though, so it's more of an ideal threat. 

Based on some of the info on using the BP calculators etc, I think most people use around 5% repairs, 5% vacancy and 8-10% CapEx when there aren't real hard numbers to use...that will get you in the ballpark..... as stated I think the utilities are going to make or break you......and the current condition.But remember.....the ASKING price is 300k.....that's not what you have to pay for it.....Most people seem to shoot for $150-200 cash flow/door and >10% CoC return....but it depends on other factors, market area, potential for appreciation etc

@Jason BocekIf you plan to file your own return - You should look into reading the following form instructionsSchedule E - supplemental income and lossesForm 4562 - Depreciation & AmortizationForm 8582 - Passive Activity Loss LimitationsHowever, you may be better off find a professional who can prepare your returns correctly and provide you tax advice.Your rehab expenses may need to be capitalized if it was paid before the property was livable.You should be entitled to other expenses outside of interest, taxes, insurance(remember paying down loan balance is not a deduction).You should interview a couple accountants here on BP.