I suspect if we hit a correction - many people will get burned and my deal rates, response rates, ROI will all improve. 

After the whole project I suspect I could spend anywhere from 40-50k ( a little closer to the 60K you speak of) Now, I live in San Diego and never really visited anywhere else so using google maps to "view" the area is a big shock to me.

I suspect if someone is considering the tax implications while fleshing out a deal, you are probably in better shape than most.

Thanks for the info on the market- we suspected as much.

I suspect  10 minute conversation I can help you find what you need to make the deal happen perfectly legally.

Based on your age and what you list for experience, I suspect you are a member of the maintenance crew and not an actual property manager.

Agreed ... if Levin thinks that $200/mo ($700*28%) is too conservative for CapEx, Vacancy, and Upkeep then he is in for quite a surprise, as is the OP I suspect.

The offer is either accepted or it is not but typically the investors I am competing with are making offers suspecting the property is not as nice as described and represented in the photos so my offer typically is competitive.  

I wanted readers of this forum to see him as the smart, personable young man that I knew rather than to think of him as a statistic, a 'suspected drug user', or as a 'problem' for me to deal with.

I suspect an reasonable ARV on this one would be between $260K to $270K.