It didn't say returned check, it says stop payment.

I don't have a W-2 job nor tax returns from the last two years to be able to pull the mortgage under my name/credit/income.

The mortgagors reported the mortgage interest on their returns, which excludes us from being able to capitalize the same interest on our returns.There is more research being done..we shall see what becomes of this situation.Another quirk in this situation is that one of the properties we signed a lease agreement with permission to upgrade the property.  

Personally i wouldn't do it with that kind of COC returns.

I would first focus on items that are going to get an instant return and then take care of other upgrades that while important do add value to the tenant or reduce your expenses.

You'd have to gamble a little bit by being out of the area but I would go for it rather than a significantly smaller return in a local area.

Yes, it is the best return on your money, but in my experience as a property manager, most people just starting out get more traction if they start in a safer - class B - neighborhood. 

Flipping is faster and can generate higher returns, but it is an active process and a job.

Drew,I would definitely increase the maintenance and cap ex both to 10% for another 55 each a month, still will have cash flow of 271 a month and is still great cash on cash return Greg

Hi All, Bit of background: I was in the states for a while in 2015 in Detroit learning the market did a bit of wholesaling etc.I returned to my home country after 3 months due to personal reasons ( I really wanted to stay in the states as I have a passport so no issues).