So, I am not sure if the rules will exclude me from winning again, but I will try again.Well back on my New Years Resolution, I had hoped to get something going small like the Little Train that could, with some Bandit signs.

I exclude sold “as is” and REO's.

I own many rentals, none have ever had expenses excluding P and I that have remotely come close to 50%

If you default and con not close or find a buyer then ultimately your going to breach the contract in which case the contract should already remedy the solution by the seller collecting earnest money that was given and excludes you from lawsuit.

I already market to the personal representatives of probate properties.I have narrowed it down by the following: property type, assessed value, sales price less than $100, exclude corporate/bank/LLC owned, sales date = previous 9 months.

Excluding closing costs (you can do the math on your own) P&I on a 30yr fixed loan of $300K at 4% is $1,452 and with rent being $5,462 you would cash flow about $4K each house (this of course isn't inclusive of taxes and insurance or repairs/main). 

Class D/war zone areas excluded please. 

No one is excluded.

Depreciation recapture is not excluded under Section 121 (the $250,000 tax free exclusion).

I entered these criteria:Geography: 6 zip codes% equity: 40-100%SFRAbsentee owned (out of state only included), Exclude trustee owned and exclude corporate ownedThe result was something like 80 properties.