Example 2:On my most recent rehab- I made the seller two offers: one at 21k and the other purchase at 25k if he was willing to hold mortgage and wait 6-9 months to get paid.

@Leo KhmelnikerI've made a spreadsheet with 20 property managers in the area.  

I love the idea of finding a flip too-- one of my favorite parts of the old house was seeing where it came from and what I made it look like.

Please note that I don't know how plausible they all are so feel free to comment:1) Write it into the offer that the eviction process has to be completed by closing, else I can walk.2) Ask for money back at closing to cover any fees plus unforeseen damages to the property.3) Walk away and find something else.Oh great, now I can't figure out how to get my margins back to what they were before....anyway, I haven't made an offer yet.

I told them while chatting with them, that I made no exceptions for my rule that income must be AT LEAST 3x monthly rent.  

There was more made on the turnover of the property than there was on the rental aspect of the property.  

The new Code guy does not even know what to look at or what repairs were to be made.

Hi Jacob, Glad you made it to the site.  

After buying my house and also reading Rich Dad, Poor Dad, I definitely realize I could have made a better choice like getting into a duplex.

Rather, I would just tell anyone who was going to make an offer to expect no repairs to be made.