Otherwise you'll be in the same situation that the people you are buying from are in.It takes a special skillset to take a non performing rental and make it profitable.

@Keesha DuminieI would target something where by benefit of skills, relationships, or location, you are likely to out-perform the average expectation.For instance, someone that lives in a small university town is much more likely to out-perform and fix and flips there when compared to an out-of-state flipper.

I would only turn it back to a two bedroom if the second and third bedrooms are really ridiculously small, which it doesn’t sound like they are.Basically, you have to look at the property and walk through it and say what will my potential renters or potential buyers say?

They get paid that percent regardless of how your portfolio performs. 2.

We’re also capable of performing concrete and asphalt work in-house.

If you want to get the most out of a listed deal, I always recommend you approach the listing agent without using your own realtor, provided you have the know-how to negotiate, perform due diligence, and navigate the purchase process well.As an aside, I do not recommend buying a property for 230k, or even 200k, that is only renting for 2100/mo.

Third, I wouldn't have allowed them to paint or renovate the kitchen, even if the husband is a contractor.

I would look into placing that equity into properties that are performing.

@Morgan Merritt MLS listings for investment properties usually include a breakdown of gross rental income, annual expenses, even cap rate right in the listing info, which should be enough to give you a snapshot of the (supposed) past performance of the property and run your own preliminary financial analysis.

Two forms of notes can be bought: performing and nonperforming.