Over 50% down on a seller financed offer is quite strong.

Another contractor started strong with timelines and quality, then slacked off and quality went down (took to long to fire this guy).

If you want to be passive, you could easily spread that over 6-8 syndicated deals in multiple strong markets. 

Good Afternoon Luther, If the property has been listed for 18 months at 45K I would strongly encourage you to send in an offer below list price.

I would strongly suggest investing out of state and aiming for cash flow, and hiring property managers to be pretty hands off on your investments. 

@Allison MeggisonI would strongly suggest working with a local real estate agent, as they will have access to a great deal of information that will be of use to you (comps, previous sales, rental rates in the area, etc.) when it comes to apartments. 

You might try to talk to a realtor or others to see how strong the market is. 

So, here's one very strong argument for never, ever EVER using accordion-type plastic or thin metal dryer vent hose. 

@Pam Lords I would strongly advise against sending letters to preforeclosures about sub 2.

If the owner is diligent about their expenses and can prove any discrepancies, then they can make a strong case to increase the report's NOI for the property.