Properties that have gross rents of about 1% of the acquisition cost will not cash flow when you consider the real world expenses.Good Luck,Mike

Or do I just need to keep searching until I finally find the right property?

Finally, when you "sell" a house with owner financing, you certainly haven't made an instant $42,500 profit.

Once you are finished with the rehab, put together a simple itemized final report of everything done to the property and what it costs.

To my surprise it was $3k less than my final offer.

Is the interest rate fixed during the life of the loan or is it a two interest rate program (one for rehab and the final lock after its completed)?

I intend to utilize an accountant and an attorney to prepare the final documentation but I wanted to have my ducks in a row before I start ticking the timer on a paid professionals desk.

She should have done a final walk through with the owner of the property.

Ahhh - I'm in a bidding war - I went to my best and final - 100k even.

My offers have been starting out around 70-75% ARV minus repairs depending on the house/location, and my final offers (for the ones that even countered back and forth with me) have been as high as 82% in one case but still no deal (the the first paragraph example in fact).