Purchase price of 115k with 10% down @ 4.75% with a P&I of $654/moLoan balance of 103,500Rehab cost of 10kARV of what I am guessing to be about 150kAssuming an ARV of 150k with 80/20 financing at 5.5% After closing costs etc it doesn’t seem to make sense.

And if you are taking a loan, then breaking even each year is actually a win for you because your principal balance is being paid by someone else.   

Large or small banks doesn't matter,  the overlays for investment properties  which make it difficult to work with lenders.  

@Rita Lo It is very difficult to use a bank when it comes to auctions.

They had balance of $8000 but work worth $15k so they quit.

Keeping tenants in the lower unit is very difficult to achieve.

It’s really not that difficult after you just do that once

If you do buy the worst property in the best neighborhood, you don't want it to remain the worst property in the neighborhood - there's a point at which you want to do a better job of attracting customers than your competitors, and that's going to be difficult to do if your place is a dump relative to the rest of the neighborhood. 

or second worst.. depending on who you talk to .. my banker thinks it was worse than the 30s depression.. but anyway.. we are now coming back into balance.. and unless we have a Credit freeze again were is this distressed inventory going to come from.. ??? 

It's truly an unfortunate circumstance, but if anyone is interested in letting go their difficult assets, feel free to DM me.