I was here working on the place, building railings, doing demo in the basement, etc., about a month before closing, and even helped the seller deliver an eviction notice to the tenant in Unit 3 - the worst unit, and the one I would occupy.

I am not looking to flip this property in any shape or form.That being said, here are my year-one assumptions:Purchase Price:  $200,000Improvements:  $1,000 (washer and dryer, misc cosmetic small items such as a new ceiling fan)Closing Costs: $4,500Down Payment: $50,000 (25%)Interest Rate: 30 years @ 5.5%Monthly Rent: $1,400  (although hoping to list at $1,500 as a few comparable properties have achieved that)Vacancy Rate: 5%Property Taxes: $1,825Insurance: $200Maintenance: $1,680 (using 10% of rent but feel like this would be less doing things myself)Utilities: Paid by tenantYard work: Most by tenantProperty Management: None for the time beingAnnual Cash Flow:  $1,700Cash ROI:  3.39%Capitalization Rate:  6.13%Total ROI:  7.47%I realize that this does not clear the 1% rule, but what are others doing in this case that don't want to invest in non-local markets? 

. - IT IS RECOMMENDED TO REMOVE/DISPOSE OF THE WASHER AND DRYER.

I'll take a 8% CAP on one $500k Seattle house all day over a 9-10% cap in Atlanta on 5 $100k houses - fewer headaches investing locally, less management, and fewer washer machines to break lol.

I talked to Scott Trench last month (when he was here for the real estate Expo) about a real estate financing strategy for BRRRRs that was pretty commonplace here (ie most HMLs here will do it), but he had never heard of it before.I know exactly who you're talking about, mainly because I've purchased deals from them in the past.

It was her number one thing she wanted.. 

Could be including a washer/dryer or allowing small pets.

@Cara Lonsdale LOL your 100% right - I will deff try the cash for keys approach maybe that will work out, when I called she hung up on me, then I waiting a few minutes and called back, atleast this time she stayed on the phone but most of the conversation was her cursing him off, and me doing a lot of "yes - ma'am" "thats horrible, your right...." that type of thing, so she agreed to possible meet me, lets see what happens.

My daughter just finished her second year at The University of Arkansas and was here last week.  

I did not make killing on the deal because it was a co-worker from work and it was her 1st house.