I watched a webinar the other night by bigger pockets and the presenter showed a buying houses for a low cost (75,000) and renting for about 1000 USD.  

Home Depot, Menards, and Lowes all sells very inexpensive plastic miniblinds.

The one with long term tenant was at very low rent, $800/ month!

The spread enables me to get low or no cost insurance.Lastly, this isn't my personal example but my partner used notes to pay for the addition on his house.

THat CCR is low isn't it.

(not uncommon).Sometimes you'll see a place in good condition (but with low reserves, indicating they spent the money to renew the place); or one with high reserves but in dated condition (sign of a tight fisted board).

We found that after 5 it's a pretty low conversion.  

A typical mortgage loan (20%-30% down, low interest, and 30-yr note) is available to those houses which are habitable.

If you're getting $900/month that's really good rent; it's basically low end for a 3/1.However, $65,000 is a better price for a 3/1 completely rehabbed.  

The chances are very low without the bond, also most contractor's bonds cover negligence and fraud, the "performance" part usually falls under negligence aka leaving a project unfinished, charging too much, etc.