For Americans using their housing allowances, there’s a unique opportunity to acquire properties that generate strong yields without relying on appreciation alone.2.

From day one I treated my involvement in real estate as a real business.This means, I had an advertising budget, a lead generating and follow up process, a back end process and money source and above all an experienced mentor.  

I want a resort style feel, clean neighborhood, golf carts, and pool a plus .

Having rentals that just pay for themselves or generate excess cashflow you can tap for other things?

@ Theresa, The ONLY doubt in my mind NOW is if this -My lease is a standard zillow generated lease.

Even if it does, there's closing costs to consider.As I said, I have no cash myself, so I'm asking how I can deal with generating cash for closing costs (and a down payment) if it comes to it.The house costs $139000.

Your specific variable expense assumptions are wrong, BUT you stumbled into them being correct overall.Also, you are approaching this correctly - entering in the numbers to generate a purchase price that meets your metrics:)

Definitely do homework on making sure you can get a clean title and make sure that the foreclosure was on the first lien.  

. :-)A quick comment about property prices: We cannot go by “estimates” regardless of who generates those estimates. 

Please reach out if you are a lender or can connect me.5 Bed 2 Full Bath & 2 Half BathExisting Mortgage ~$550,000Home Value ~$1.1+ Mil Depending on the STR income generated from this property, you could do up to 75% LTV on a cash out refinance.