@Sean PhillipsPull the death certificate.

Properties with Condo Fees are usually the death null for the deal....and those that are telling you it's a good deal have a strange definition of a good deal.  

Current rent at our properties is $1,325 for a 3 bed house and comps are at about $1,500 right now. 

(I can send a list of zip codes i am interested in.)Looking for a 3 bed/2 bath that needs minor cosmetic updates.

I bought an older / out of date duplex in a nice neighborhood with 3 beds 2 baths upstairs and 1 bed 1 bath downstairs.

I recently closed a duplex and a 2 bed house all on one lot here in SoCal.

Based on my research, it looks like I can rent out an average 100,000 home, 3 bed, 1 bath for around 1000-1200$ per month.

That exercise might yield a value higher than $318K based on the $395K property, but there should be at least 2 other comps included which could pull the value down.The reality is that appraisers will compare properties based on how they look on paper (s/f, unit count, beds, baths, stories, parking, etc).  

Valued at $380,000 now, pulled my equity and bought another.Price: $258,000Down: $9030Wrapped Closing: $3000 closing/bank paid the other halfrenovations: $21000Rents: $3,200 Payment:$1730------------------------------------------------------------------------------------------------------------Deal 2# Student house5 bed 2 bath home built in 2006 in great shape.

(Garage needs a new roof, I'd like to add a full bath to the master bed, remodel the existing bath and kitchen and take down the wall separating the kitchen and dining room) just a few things I can think of off the top of my head.