My next mental nut to crack is the out of state rentals.  

I've known a lot of super intelligent people over the years who have made massive amounts of money only to loose it because they've always had the "broker mentality".  

My gut tells me he will reject all requests since he paid $130k for the property 5 years ago and cannot mentally get past "losing" on the sale despite making thousands over the years helped by not paying for a lot of necessary maintenance.My questions: If the seller refuses to pay for repairs and it takes $10k to bring everything up to code, is this still a worthwhile deal at $145k?

The budget doesn't give you much insight into the health of the building, it's one small piece.

I have a couple of suggestions:1) Read "Getting More" by Stuart Diamond2) Change your mentality from: How can I get a deal?

The low income housing complex will probably not go away and will continue to be a drag on the property values, also with the not in my backyard mentality if future low income units are to be built it will probably be there.

In addition to being on call, most investors aren't going in with a competitive mentality.

If they have so little concern for their own health and life, how much respect will they give my property?

I have an 8 year old that I would like to raise with an investor mentality.

@Samantha N.So great to see multiple clients on the same thread, love the "people helping people" mentality of the people I get to work with!!