I bet you'll spend a lot more than that getting that unit ready for a new tenant - who is an unknown. 

Tenant had a lease allowing 2 adults and 3 kids.( though only he lived in the house) Unknown to me he rented out a room to a co-worker.

You could start with this relatively unknown site:RELATIVELY UNKNOWN WEBSITE

There is a point in time in most car payment purchases, especially fairly far in, that you've essentially reached the point of no return if you need to keep a reliable vehicle, i.e. you've absorbed the bulk costs of interest and are only swapping like for like, known for unknown. 

There are a lot of unknowns to spend all that money and not be guaranteed the lawn will be maintained.

Just based on the $6,500 in taxes and excluding the other unknown expenses (I know that's a bad idea), the NOI = $3,400 per year.  

The required amount of capital to fund the transaction is unknown.

Here's what I'm looking at:4 bed 2 bath split level home (basement+ground level) carport (no garage)1800 sq ft home 6000 sq ft fully fenced lotSelling agent's resale estimate: $135,000 - $140,000Buyers agent resale estimate: $130,000Zestimate: $125,000 Selling agent's estimate of repairs $10,000 - $20,000Buyers agent's estimate of repairs $20,000Selling agent's Prop. mgr estimated rent $1000 - $1100/monthBuyers agent estimated rent $1200 - $1400/monthZestimate rent: $900My guesstimate of other costs (closing + unknown): $10,000 --------------------------------- Here are the figures I plan to use:Sale price: $125,000Total costs: $30,000 = $20,000(repairs) + $10,000(other) Rent: $900/month =========================================== Max Purchase Price (MPP) using 70% rule: $57,500 ---------------------------------------------------------------------------- MPP = Sales Price * 0.7 - Total Costs MPP = ($125000*.7) - $30,000 = $87,500-$30,000 = $57,500 =========================================== Max Purchase Price using: Sales Price - Other Costs - Profit - Repair Costs: $75,000 ---------------------------------------------------------------------------- Desired Profit: $20,000 MPP = $125,000 - $10,000 - $20,000 - $20,000 = $75000===========================================Rent Yield (MPP $57,500): 12.3%Rent Yield = Annual Rent / (MPP $57,500 + Other Costs + Repair Costs)Rent Yield = ($900*12) / ($57,500 + $10,000 + $20,000) = 12.3%Rent Yield (MPP $75,000): 10.2%Rent Yield = ($900*12) / ($75,000 + $10,000 + $20,000) = 10.2%=========================================== ///////////////////////////////////////////////////////////////////// More details (from my relative): ///////////////////////////////////////////////////////////////////// Repairs needed: New shingles for roof.

For instance the bankruptcy lawyer may contest the bank's right to foreclose, but I don't want to speculate about a specific situation because there are a lot of variables and unknowns.

(lots of unknowns added into mix.) despite being in california and all that entails (no need to mention) there are still great opportunities here. and yes, info aplenty on bp. was just reading about LLCs cali vs other locations. cali is still apparently going to sock you no matter how you slice it just for home-basing/residency here. ugh. thanks and cheers back to you!