Memphis is in my opinion, HANDS DOWN, the best place in the U.S. if you goal is to buy cheap and rent out for cash flow.

That only occurs when you buy DIRT CHEAP.

IMHO, fuel is as cheap as its likely to be in our lifetimes.

The first time I bought a place that was so cheap that I couldn't get a "conforming" loan, ( I was offered 3% over market rates, plus 4 points, etc-you get the picture) I contacted my brother and he came in "halfsies" with me.

Thanks for your reply, I think if I can get this deal pretty cheap I think I stand a good chance at making some decent money on this property.RD

300-350 for a 1 bedroom in nyc seems kinda cheap.

Work cheap, compared to the pro's and you will get plenty of work, which will include roofing.

The earnest money is the "consideration" which accompanies the "offer" which if it becomes a contract and completes delivery is required have consideration to make it a binding contract.

Basically, the idea is to buy trailers from desparate sellers very cheap, then sell them with owner financing.

Most big property management Companies use cheap disposable camera's.