Up date one side by adding additional bed and bath (the other has already had this done and is in excellent condition)ARV: 475-500KMonthly income: $3200Monthly expenses: $2283 (mortgage, fixed and variable expenses, future assumptions) see below-monthly P & I: $1622- fixed expenses: $340/month (water/sewer, insurance, property taxes)- variable expenses: 2% vacancy ($64/month) , 5% repairs & maintenance ($160/month),  cap exp 3% (96$/month): No property management since we do this ourselves for our rentals.- future assumptions: 2% annual income growth, 5% PV growth, 2% expenses growth, 6% sale expensesBigger pockets tool sheet with above data:Cash flow: $916/monthCash on Cash ROI: 6.65%-7.57% depending on rehab costsPurchase cap rate: 7.15%I know this does not meet the 2% or 50% rule but it seems like a good investment for the area.  

Have a repair list with pictures - If you are truly gonna tell me what you think the repairs are going to cost you should have a list of repairs with some pictures and/or video showing the conditions of the property.

-I'm 100% sure she's dead, as I became the reluctant owner of the cat she left behind AND I was there for her body removal by the coroner (hey, I have an exciting life!).

- find a Mentor to partner with in areaWhat I'm doing now-  getting educated and licesened - I've listened to every BP podcast and am currently reading "set for life"- signed up for BP pro and am reading and asking questions- networking for subcontractors This is the just of my situation.

Now I am really hesitant to close this deal...Deal summaryLocation: Norcross, GAPurchase Price: $218kUsing conventional loan - 4.375%, 20% downpaymentmarket rent $1600-1650brand new (less than 4 years old) townhome, end unit, in a very favorable locationThis community/area has gone up $60k in the last 3 years and I thought there was some room for more growth given the market condition + desirable location. 15 year old houses are trading around the same price in the area, which gave me a little more confidence that this property could gain value in the next few years.

@Paul Bryzek There's a triplex here in San Diego that has good returns but FHA won't lend due to its condition.

I'm absolutely fine assuming we will be able to improve over those conditions.  

I could technically afford something here but I would be locked in to the middle class rut of being chained to a job in order to pay the bills and I do not want that life. 

Having one's vehicle(s) towed is a direct punch to the gut, it hurts no matter who you are in life. 

Mostly in terrible condition.