I'm sorry for posing an unclear question but you've answered it perfectly for what I needed.

It's the perfect area for a rental and we don't come close to the 1% rule here so I thought if I begin to look at REO deals, I may be able to get some bargins that might actually make financial sense.

True QB does not have the fancy bells and whistles, but for the cost, easy to use and getting thinks rolling managing your properties is just perfect.

An upside down pocket is the perfect shape for it. 

Thanks for sharing Devan.I would think this would be perfect for an "up north" cabin in the woods.

Buying a $200K home for $130K from an unrelated party is perfectly legal.

I recommend a lot of prayer as you decide how to proceed with every aspect and ever decision.Sometimes the outcome won't be perfectly fair.

All you said make perfect sense.

Your conservative ARV is 185k, doesn't work.You need to buy this property for 130k max based on your numbers to make a perfect BRRRR work.Couple examples that I've done recently:Purchase for 95k, rehab 60k, ARV 250k.Purchase price 107.5k, rehab 35k, ARV 200k.

It isn't too hard to do and It is perfect for situations just like this.