You are on the right track with evictions and enforcement of the existing leases but it will take time.Do you plan to raise rents above $400?

Using the calculator on an existing property is a little tricky but the numbers I ran show after paying your expenses and setting aside some funds for vacancy, repairs & maintenance, and capital expenses you're still cash flowing slightly under $100/month (even higher if you don't subtract those reserves).

Getting a special and start off with low down payment is not as good as you think but if the  the location is important as a consideration, the demand for what you buy property and tenant screening, it's in  growth area, is it located within a diverse area, the parking that is available, do you have deep enough pocket if funds are needed, Do nearby amenities exist, is there any nearby retail stores and what are they and does it fit your ideal tenant, and are there any existing tenants. 

Of course you can also ask a friend or relative for the cash or take money out of an existing asset you have. 

I’m probably very close to whatever the days are (if such a rule exists) so is “close enough” good enough?

I'm looking for a property with an existing auto mechanic or body shop on it ready to go, through foreclosure or Mls.

@Tracie CablerIn Jersey if you transfer title with an existing mortgage you do incur a transfer tax equal to 0.5% of the mortgage amount.

You can have current existing land value and then expected future value based on the change of use.

Then create additional wetlands to the existing wetland using a team of Biologists and Ecologists, the newly developed wetland acreage can be used as government credits.

ladies and gentlemen, i am going full bore on wholesaling, as a start. there are tons of resources out there, and almost as many gurus. i understand the need to have cash buyers, and how important it is to tie up the property. however, if anyone could share some sage advice, i  would appreciate it. i know pitfalls exist with assignments, earnest money,  but an help would be appreciated.