However, like winning the lottery, it could occur in an extremely small percentage of time.  

It is EXTREMELY competitive and the margins are very thin, so the more expense you can mitigate the better.

@Adolphus Fletcher Like others have mentioned, gaining a non-recourse loan is a challenge unless in some cases where the loan is a commercial style loan of $5MM+ and the borrowing entity has strong income & assets to satisfy the lender's concern tied to the guarantee of the loan.

In the beginning there is EXTREME VALUE in paying people well who know what they are doing - you can SCALE SO MUCH FASTER!!

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

Good news is its fully rented and generates enough cash to satisfy a 14% HML (give or take), that's pretty robust. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Often times you'll find these properties to be a little bit outdated, but are in great condition and extremely well kept. 6.

If you just look on Zillow, pick a random property, buy it, and turn it over to people you don't know to manage it, it's extremely likely that you will: have it cost a lot more than you thought, get overcharged for things, lose money, and have a big chunk of your savings just stuck in the property not really doing anything for you.Not to discourage you, or to say that you would do what these folks did, but here is what NOT to do OOS:https://www.biggerpockets.com/forums/48/topics/1137397-balti...https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1160450-run-i...https://www.biggerpockets.com/forums/67/topics/1167190-strug...I hope this helps - happy to dialogue further.