I don't know what numbers you used to get the 12% but if they're accurate then you shouldn't have much problem.Those properties have been on the market for quite awhile and were always priced too high to consider.

Buyer and seller close and I get a check in the mail........Now is that accurate or wrong?

You have to put the time in, know the neighborhoods and the accurate rental rates.

Hi Larry,If all your numbers are accurate (and what the hey, I'll just assume they are), that's a pretty hot deal.

More accurate maybe to say we are past cheap oil- more methods for extracting from shale, ocean sites etc.

@Andrew Johnson is pretty accurate in saying that dirt appreciation is limited to the "core" areas...

@Val Jaz If your numbers are accurate, buy it.  

Again, in your calculations above, it doesn't matter, but when you get into more finite calculations, you will want a more accurate picture of what exenses are, and what part the vacancy plays as a deduction from the income.Your PM is low. 

Walking the property will give you a better idea of location and current condition of the house, which helps provide a more accurate ARV and offer price. 

The lien will be easier for them to execute on an investment property.From a legal standpoint, this is the most accurate answer.