Definitely do homework on making sure you can get a clean title and make sure that the foreclosure was on the first lien.  

Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.  

Was looking to save where possible in this market but the method I proposed is not worth the consequences. looks like 20% down it is!

For a good tenant that has paid on time and was keeping the place in good clean condition I probably would have just eaten the charge.

Quote from @Stuart Udis: ....But I set the goal of acquiring 50 doors in the next 3 years using the BRRRR method and will then be financially free...isn't that a scalable business :)We see the above type comments from not so experienced investors or business owners all the time being posted on BP.  

Trying to run a successful PMC is difficult but trying to run multiple companies - VR, Annual, cleaning, and landscaping is probably going to give you an aneurism.

They just moved out and the house needs some cleaning up.

I jumped into real estate doing the BRRRR method, understanding that holding property will allow me to build generational wealth, but then learning that landlord income is not the best way to feed your family.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

The seller will lose some rent, potentially incur costs to evict, possibly costs to clean out the units depending on your sales agreement.