You may also take on other liabilities in doing this, not only claims of missing jewels, but taking property that has much more value than the amounts owed, as with any lien, you're only entitled to amounts owed from the damages, not just any amount you can get your hands on.

I'm looking to do whatever deals I can get my hands on.

I agree with Will 100%regardless of you self managing this investment I'd tack on the expense of property managers for this type of investment. 5-6% on income, or whatever the rate is near your area.When you go to re-sell (if ever) chances are a new investor will not be so hands on and will look at the actual expenses/income and evaluate bringing your cap rate much lower, which will bring your overall value of this property much lower.

I'd never pay that here in Denver, and I see apartments trade hands below that.

I'd like to get my credit score up over 720 before hand to drop the rates a little bit but we'll see what happens.

On the other hand, if you do live there with him and fair market rent is really $500 your actually giving him 0% interest....

So I'm really hands off, by and large - and it really shows the extent to which it's all his work on site.

That number is the potential profit on the deal.If that number is high enough to justify the work, you potentially have a good rehab deal on your hands.

On the other hand you will compete with investors on those.

Thought that when I hand a card out with my property pic on it, which by the way I always do everywhere I go, that it might make it more appealing for a prospect to go to the professional website and take a further look see at my fantastic and beautiful properties(mine are better than everyone elses of course).