Tends to be balanced.I have a solid rehab contract and auxiliary docs that addresses several major points.I started out in REI in 2000, wholesaling, then moved to rehabbing, got a partner, then buy-and-holds. 

I'm currently a student at the University of Texas at Dallas majoring in Mechanical Engineering and am graduating this upcoming December.

Indy is probably only going to give you cash flow on MFRs in that price range that need major fixing up.

The next major issue is permits, I don't like touching anything that has a converted garage or patio let alone 4 jerry rigged bedrooms, the assesed value isn't necessarily an issue depending on the state especially (In CA there are $2M properties assessed at $200k because of prop 13)  Investors will see the real value but the other issues would have me concerned.

You have to make the bet that you might do well, break even, or have a big loss.If a buyer has limited funds and net worth they do not need to get sucked in by the potential of high cash flow and landing nice tenants that pay on time and take care of the place with low income type properties.Think of this.Someone buys a piece of junk and hopes the building doesn't fall apart and the tenant pays on time so they can cash flow 200 to 300 a month based on current market rents for that product type.So 2,400 to 3,600 a year if everything goes perfectly with no surprises.

My wife and I closed on a primary home two weeks ago that is an "ugly" foreclosure with no major structural problems.

I do Invest my own money (mostly in weed stocks) but I am looking to make a investment that is not an equity product, where I have more control.

Am I just looking at the wrong product?

Jason, major congrats to you.

One is that when you walk into a house you need to know what the major components to look for are.