As an example, let's say you find a 2 bed 1 bath with a garage that should rent for $1000/mo that's listed for 60k and needs 20k to get rent ready with a 3 month reno and you're paying all cash. 60k purchase+20k reno+6k holding costs(3k in lost rent, insurance, taxes, utilities)+whatever your time is worth= at least 86k.

Hi Frank, 1 unit is 3 bed 1 bath.

To validate the data, do an airbnb search for "Philadelphia PA 19134" select 1 bed, entire home, and internet. 

We live in a "non-disclosure" state (AK), and past sale prices are not in the public records, however much critical information is: Lot size, square footage, ZONING (one of the most important IMO), # of beds & baths, year built, date of last deed change, city/county assessed value (do not mistake this for market value), taxes, and other info is (here) readily available on city/county websites.

Using Zillow Rents, there are only a couple 4 bed homes for rent and maybe a dozen or so 3 beds on the market.  

If you wanna know a good trick hang the sheets wall to wall leaving a half inch gap and then hang bed molding in the corner.  

Hi BP folks,In 2005 a bought a 2 beds 1.5 baths townhouse where I lived for 5 years. 

A guy bought a fixer upper at auction in a very good area, 4 bed 2 bath 2500 sq ft .

I am in the process of formulating a strategy that can be used to leverage section 8 housing and financing to yield a return over 50% Cash on cash .For the past three years I have been renting my 3 bed 1.5 bath home to a section 8 tenant who is paying $950 per month .The acquistion and renovation costs for the property  totaled $40,000.Cost Breakdown:$40,000 property  +cost of  renovationExpenses:Taxes $650Insurance $550Repairs $500Vacancy (2.5% of total rent due to low tenant Turnover)

As @Bill Gulley, mentioned we have posed a rent back situation as a resolution, but have not heard back yet.Bullet Points:2,100 Sq Ft.  4 bed/ 2 bathPurchase Price: $104,000As-Is Value: $155,000 -property appraised at $161,000 in 2014, market has gone up, but like be conservative with the numbers.ARV: $195,000 Repairs: $28,000Rent: $ 1450-1500/monthSince we are primarily Buy and Hold investors, that was the objective here.