You make your money when you buy the property, if it's not cash flowing from the day you take it over, it's not a good deal.There are plenty of other properties, this sounds like it has disaster written all over it from every angle.

Great info above but just to add,Know your absolute floor and ceiling prices.I had a property advertised at $1700, about 1.5-2 months into the app process i got tenants from a wide array but not biters.I dropped to $1650...1600... and when I was about to drop to 1575 someone bit it at 1600 and loved the property.Its a waiting game but note, waiting can cost you allot.

. - I used the following criteria:Sfr50% equity or moreAbsentee ownersWithin 25 miles of my houseI cast a pretty wide net.. with you using Maricopa you might want to go only with out of state absentee to keep the list manageable. .

You'll be seeing a wide range of prices and product offerings!

This is why typically we use the 50% of gross expected income because over time in a properties history it will be this way and if landlord pays water it will be close to 60% total.Now there is another angle here in that with these town houses if the market is improving you might be able to buy the properties and then bifurcate the loan.

Caveats: make sure that you are buying houses that will rent for enough money to give you a wide margin above the loan payment, and use a generous vacancy factor so you don't get caught up in negative cash flow.

Obviously you see it as a plus, credibility angle, but any down sides?

This will be a wide difference.

For a single-wide add anywhere from $5-10K onto the base cost.

Good faith dealings are at the discreation of a judge and jury, based on many factors such as knowledge of the parties, conduct and fairness, it's a wide door when opened.