FHA 203(k) loans are not  available to investors.Rates are going to be slightly higher on renovation loans, but still very reasonable.Homestyle has a rule that the repairs cannot be more than 50% of the as-completed value of the property, so when you're working with these really low priced properties you have to make sure the numbers work.  

For example, this property sat on the market for over 120 days, with over 35 showings and one low ball offer.  

I only sent offers to extremely distressed properties based on provided pictures.My question has to do with direct mailing to Pre-Foreclosures.

This unit is going to be in extremely poor condition unless this problem is ameliorated now.

Snow removal is $500.Water and sewer are $88/mo (this seems low to me?)

My parents keep rents low and are "patient" with renters in order to avoid the hassle of people moving in and out--older people like security, I guess.  

Would be great to clear some capital if you had a good exit strategy there, but you might be able to get going on the primary goal even faster if you could go with a low money down approach like an FHA Loan or House Hack.  

So, for a quick background on myself, I am a recent college graduate living in Atlanta, GA, currently working at a marketing agency full-time, but have become extremely interested in pursuing some sort of real estate investing.

I'm trying to figure out if I should just get my Indiana license (I am licensed in TN), since it seems the low cost/commissions keep realtors from spending any time, which is somewhat understandable.

Inventory is still very low.