The tenant (male with Father cosigner, has wife and 2 teen kids living there) has good history other than occasional lateness (1 week), but always caught up with fees.

Same protections.60% of people don’t pay off their cards every month.Consumer Reports says 75% of airline miles are never used.Don’t get credit cards for teens. 80% of college grads have credit card debt.19% of people who declare bankruptcy are in college.Debt consolidation only treats the symptom, not the root cause of spending.Chapter 4: Money Myths The (Non)Secrets of the Rich.Seeking false security in a job you hate is destructive.

It does make some assumptions:Purchase plus rehab is 70% of the ARVARV is the actual price you'll sell forYou're using hard money with a mid teen rate and several pointsYou'll hold about six monthsYour rehab estimate is accurateIf you can change any of those assumptions (e.g., you have your own cash) you can make an appropriate adjustment. 

It's not unusual for investors to realize returns in the mid to high teens and many times the depreciation they share in completely offsets their tax burden on the profits. 

I have no prior knowledge or experience, but I've always been interested in RE since my teen years.

I modified two of my new builds this year to accommodate this requirement.. the larger national and production builders simply wont do it.I had one tenant that was morbidly Obese and basically bed ridden.. but she lived for some years like that I think maybe 5 or so.. it was an old single wide with an addition so I let her do whatever she wanted as when she left it was just going to the dump anyway  

Seems to be difficult to find IRR in the teens in any decent areas.

I manage several hedge funds, local and national investors and we are seeing ROI's in the mid-teens on an annual basis.

They would happily park money with syndicators, hope for IRRs in the teens, and call it a day.

Milltown kids may go to Spotswood High School still, so it's not as desirable for parents with older teens.