Get your credit cleaned up, get some cash saved up, then think about buying a residence if that's what you want.If you're determined, I'd be upfront and offer the asking price (or a bit more), no money down.

I spoke to the city and before the closing I will need to have a licensed contractor send a bid to the city to be approved on all of the problems found on the city inspection report, which includes a bid on everything from putting in a smoke detector to cleaning out a gutter.

It should be neat & clean, & smell good.Take a look at trulia or zillow to see what houses that are similar to yours are getting top dollar.

When a property is purchased this way, the previous mortgage and any tax liens should be wiped clean, but I still have a bad feeling about this.

I am figuring 58K 'All In' The current rent is $700, but I feel it could easily be $850 or so, but I am basing my figures on $800.The house has had new roof, windows, siding, water heater, and flooring in the last few years.My rough figure are;8800 Operating Income$3800 Expenses (only about 40% since all the recent upgrades)$5000 NOI - $4000 Debt Service= $1000 Cash FlowNot quite $100 'per door', but I would also be building equity at about $100 a month, along with likely appreciation of $100 - $150 month.

And I can add value by cleaning it up and/or vacating problem tenants.

Some new GE installs have an air gap that can get blocked on & off with debris & that's an easy clean out.GE drain pipes run back from under the middle/front of the dishwasher into the rear of the machine & then it snakes up to exit through the cabinet wall.

When your house is a mess you can't sell it for what a clean house sells for so your property condition means you have "no equity".

Many times if you are just cleaning a place up the inspectors let existing noncompliant items slide.

There is also a coffee shop on the first floor.