I'd need a loan of about $140k for purchase and repairs. 

For newbies I recommend adding 20% on top of estimated  budget whenever penciling out repair costs.  

If you have family here they can also keep an eye on your investments.That said,  50K does not buy much unless your are going to do your own repairs.   100k range is better home and location. 

About the Deal:On MLS for 320 daysHeld in a rev trust Listed for around 300k - I would want to put an offer in around 200, or less.Property inspection is available for viewing; it is 90 pages long (basically everything except structure needs attention)Estimated repairs around 200k. 

My newest rental is being made possible by a relationship i have built from a local foundation repair company.

I will buy and hold not for want of appreciation but to keep someone's home in good repair and eventually enjoy a cash flow untainted by mortgage payments. 

I’m a masonry contractor and specialize in brick and foundation repairs so the repairs aren’t an issue at all it’s just that no bank wants to finance a home needing those kind of repairs.

If you are looking to get a loan on the purchase price no problem, if you are planning on doing repairs and want the loan on the ARV you have to wait 6 months

Zero maint/repairs for 2017... low maint tenants, built 2002. #2: value 450-460K, owe 300K. fairly upgraded "Executive rental" rents for 2400.

You and/or your accountant might determine that you do have some earned income based on your active management, rehab or repair, or method of renting the properties.