A friend of mine has a 2 bed 2 bath apartment in the heart of hollywood that he rents for $2,500 and I know some months he struggles to gross $3,000 but he then grosses over $4,000 on a good month. 

. - Estimated 60K ProfitSmall addition of say 2 beds + bath (800 Sqft) - Costs undetermined - ARV Mid 200'sObviously each step requires a bit more work, but the profit also increases as well.

Splits vary per deal and per situation but 50% - 70% going to partners is typical.We are regulated to death and it is only getting worse, most of which is a claim to protect consumers, I don't see how that is true, but that is just opinion.I still stand firm on my belief that having the ability to pay all involved so that nobody other than you loses money is key.

The issue I've seen is the municipality generally wants you to bring the system up to code when you're going that far into the system and that includes site survey, engineered plans and a modern leach field, sometimes with a raised bed/field.

I am buying a 3 bed 2 bath attached house for 10k cash.

We have just recently hit some affordability levels that allow you to get into properties including the rehab expenses, and positively cash flow the property.Example, $60k purchase (includes rehab) and it rents for $1100 monthly (3 bed/2 bath).Send me a PM if you really have interests as I do not want to hijack this thread either.Now, back to finding bird dogs. . .

This is a tough time to make decisions so don't be hasty.When you inherit the basis for the property is the value at date of death you should get an appraisal to determine and document what that value is.

They mentioned the death sentences typically being commuted to life imprisonment.

So lets say rents in the area are $1500 a month for a 2 bed, 1 bath single family house.

Marketing to probate and obituaries can be a wonderful opportunity to investors but for me the key to success is to avoid dealing with the issues of death and to stick to the issues of dealing with the property.I start my marketing with obituaries followed with probate filings and find it just another effective way to acquire property.Short of courthouse research you can go to your local library and go to the reference department and research using what is called a Polk City directory that will list if the deceased party owns real estate.I use a simple letter that has produced great response as follows:This is the letter that I use.DearI am looking at purchasing several properties at and around ________________________(property address) and would like to talk to you about the purchase of ________________________(property address) if you would be interested in selling.Thank you for your time and you can reach me at ( )______ - ______________.Sincerely, John MichaelDid you know that;*Having a will guarantees that your estate will go through probate?