There are a lot of variables and combinations that may play into it but again as I said everything is negotiable.

Other meet-ups can be found on eventbrite and meetup.com.You can also use the BP search function to connect with agents, contractors, and investors in your target market.

I agree with the others that it is the end result (i.e. does it look right and function properly) that matters most, not so much a piece of paper.  

Is there a functioning kitchen and bathroom and heat source?

I'm not too concerned with calculating PM costs into it until later in life when its either paid off or refinanced at a lower payment.All combined the leverage would be a conventional loan for 80 percent and a HELOC for the other 20, none of my direct cash.With all that in mind, the following questions come to mind about whether this makes sense or not.Technically, if I'm using the HELOC completely or majority of the purchase, would that mean my CoC return is effectively much higher since its not my own money (directly, I know its my equity) as long as I don't make my own payments on the HELOC?

Now you're looking at a combined $300-400k equity and you can buy a nice size building/complex.

@Jacob Kline and what I mean by “calculating #s off of the payoff from contract price” is that I’ve got a purchase price written in the contract as: “Buyer and seller mutually agree that the purchase price will be the combined of payoff plus $amount net to the seller”

Hi Calvin, I looked at that one too as it could be a good deal.It's definitely going to be more than 10k based on the details in the MLS:"Just vacated by tenant; Needs cleaning and the flooring is likely to need replacing throughout; Please be aware there is a STRONG PET ODOR in the house and pet damage in places; One window has broken glass and one shower is not usable; I believe one of the toilets is not functioning as well.

I thoroughly used the "LLC name search" function in my state and did not see anything close to my submitted name. 

@Carolyn Hodo both of my parents combined have a really good income, but my mom doesn’t have credit and my dad had some medical expenses that ruined his great credit score.