Here is another example of an investment that meets this criteria from a friend of mine: An apartment in Miami area for $30,000 bought at an REO auction, needs $2-5k in fixing up, and will rent for a total of $935 per month as a section 8 rent.

Any suggestions on how to "turn up the heat" on seller motivation to convert to closed deals?

Yes would think that he would but he is cheap and doen't want to fix anything or update or replace anything, We have poor installation to the point that the heater blow's out cool air so our electric bill is high in the winter becouse we have to use space heaters the centeral heating is gas...

Here's are the numbers:$177,000 list price$45,900 total rents $17,241 expenses - 700 electric - 1,977 water - 1,637 trash - 6,847 heat - 1,950 insurance - 130 snow removal - 4000 property taxI'm sure I'm missing a few things, 9 total units for rent in building.

How are you doing with that heat up there?

:Glassblowing (well, actually flameworking), here I use a propane / oxygen / compressed air mix and a German torch to heat up rods of glass in to a molten state, mix them around a bit, and have lots of fun.

Also, inventory levels in many areas continue to shrink (miami, vegas) .... http://www.realestatechannel.com/us-markets/residential-real-estate-1/real-estate-news-shadow-real-estate-inventory-shadow-inventory-shadow-home-inventory-delinquent-loans-home-foreclosures-bank-real-estate-owned-2808.php

The central air and heat are both in good shape, though both are probably ten years old now.

The numbers you mentioned sound cheap to me in a water palyground area and if things are heating up, you might really have something!

I may catch some heat for this but I'd like to see it go by the wayside.