For easy math let's use $100K valued houses and $1000 rent (1% rule).

I actually did run it through the calculator and it looked good math wise, but I just went to see the property and the units are very small and happens to be directly across the street from a prison.  

And, be confident in your math.

Emerson Zollos,I'm in the same boat with a duplex, where one of the units was occupied seems to be a chain smoker - the walls, ceiling & floor are just completely saturated with cigarette tar/smoke.While I haven't begun rehabbing the 2nd unit, I've been doing my homework on the best way to tackle this project and what seems to be the most effective treatment that I've found so far, short of ripping out the drywall/plaster & lathe, I've been reading that using a TSP solution with warm water very effective in removing the "gunk" so to speak - once the walls have been thoroughly cleaned with TSP, use an oil-based primer (Killz) to seal the walls and then apply a few coats of paint. 

My cash on cash ROI is infinity % as according to the math above I'd be getting back more than invested.

You use it when you have a great deal that for whatever reason cannot be financed by conventional loans and after properly doing the maths including conservative padding for things that can go wrongWhat things can go wrong you ask?

-refi with no payout and snowball the extra 400/month into debtShould I pay off all loans and wait to recoup 30k in 35 months [math 30k/871 (money saved)] then invest?

Demonstrate the value you can add, be professional, and show that you have done your homework in regards to what you are trying to accomplish.I have yet to do my first deal but I plan to have a solid presentation and dress the part.

I want to show him that I have done my homework.   

Some of the posts on this thread in particular are making me question my sanity.Granted, she has cash flow, but she could have...purchased more properties by keeping her cash and leveraging itbought a property that wouldn't be as highly leveragedwaited for a better deal to come around where she has cash flow and equity.These deals always boil down to math.