So much for almost turnkey :)Here are the stats:purchase price 45k 100% cashrehab price 3kRental price 1k / monthNOI - approx 5500 / annuallycash flow 450 / monthSo my goal is to keep the ball rolling and I am eying up two other similar properties.

RE is really the odd ball out when you attempt to assess an individual property, mainly due to the uniqueness of the variables effecting that one property.While we may compare a rate of return estimated for a property to an expect return on a security, that is really an invalid assumption to investing since the risks associated with these investments are not nearly the same nor do the require the same amount of management or knowledge to maintain the investment.Another issue is that a security only provides an economic and financial aspect to value, it carries very little as to any intrinsic value, a bond or an annuity is rather limited as to its usefulness.

@Mehran Kamari -- Thanks Mehran, I'm really excited about getting the ball rolling, the earlier the better!

The city issues will not go away and will normally mount until a big ball of you- know-what if left unresolved so keep the c/e people informed of your plans.

Many agents do not like to low ball offers because they see it as a waste of time and foolishly do not see opportunity.

Well, the average profit should be known by any investor in any strategy off the top of their head, pretty simple ball park figure and locations and prices ranges have absolutely nothing to do with the average profit.I really doubt you lack basic financial knowledge, you're a sharp guy, giving a high % as a margin and then saying it doesn't include debt service is just another example of not being truly forthright.

Scott, one of the things I try to focus on (and share with my team members) is having the ability to build massive rapport and connection over the phone.At that point, the trust factor is through the roof and now offering them options on selling becomes the goal (assuming they don't want to take the all cash offer)  So in regards to follow up, its mostly following up and pushing the ball down the field in the particular option that they eventually choose once we both identify what that option is.Ex: if they don't want our all cash offer, we explore WITH them a lease option or sub2, then as a last resort, we explore the option to list with one of our partner realtors in their area.And this is specific to the leads i'm getting online (and I'm getting a ton of them too lol)

I am trying to get the ball rolling to purchase my first property.  

@Dawn Brenengen @Sam Jones , i totally realize we dropped the ball on terrible pictures. 

Then refinanced, bought 3 more properties and refinanced all of them and the snow ball effect started for me consistently investing every penny back into the business buying more and more properties.