The idea is promising and I would suggest an area where growth is happening or attractive to the military population.  

Building constructed in 1980Present loan value appx $77k on a 15 yr note with 3.375% interestP&I pmt is appx $602NOI 2014 was $11489NOI 2013 was $5142      (spent around $4k on updates/remodeling)Appx $27k by my calculations of capital improvements needed in the next 5-10 years to increase the value of the property, properly maintain it, and keep it functionally up to date in order to attract higher quality tenants (located in a b grade area) (I'd rather have more invested to have higher quality tenants - have my own reasons for this line of thinking - willing to sacrifice a bit of profit to have good people)- Redo Kitchens- replace doors and all base trim/casing (more for my taste and would help the place rent out even quicker)- 2 escape windows installed for basement bedrooms- Concrete work needed on patios and near front of the house -- need to be done in the next yearProperty based on comps in the immediate area and a tight supply of decent duplexes here is $175-210k or so.  

It's probably going to have to have a really good cap rate to attract and investor. 

For example, if the deal is really weak you'll have to delete tiers and slide up the splits to deliver an attractive return.Your experience and investor relationships will also drive your decision on the structure.

A buyer can then assume the loan later after rates have risen and you'll make your property more attractive Vs competing properties in a higher interest rate environment.Create a short term and long term business plan for these assets and this should help guide your decision on which way to lean in financing the acquisition.

The least amount possible to attract another buyer. 

most of the problems around low slope roofing is design flaw or bad installation.

If you're not "married" to your local market here in the Inland Empire then your thought of investing in the Midwest is likely a prudent one.For $90,000 to $130,000 you can get a three bedroom home in a great neighborhood that generates double-digit cash on cash returns.When you live in an expensive market where the rents are relatively low to the purchase price, it is difficult to get attractive rates of return.  

The waiver applies to all sales contracts executed on or after February 1, 2010, until 11:59 PM, December 31, 2014.FHA deems a sales contract to be executed when all parties to the contract have signed the contract, and the contract is enforceable under the law of the state the property is located.Mortgages that are made on properties in which sales contracts have been executed after 11:59 PM, December 31, 2014, are not eligible for a waiver of the regulation prohibiting property flipping.FHA will not extend the waiver beyond December 31, 2014.Section 203.37a(c) lists the sales transactions exempt from this rule.The exempt transactions include sales by HUD of real estate-owned (REO) properties under HUD’s regulations in 24 CFR part 291, sales by other federal agencies of REO properties, sales of properties by nonprofit organizations that have been approved to purchase and resell HUD REO properties, sales by state - and federally - chartered financial institutions and government sponsored enterprises (GSEs), and, upon announcement by HUD through issuance of a notice, sales of properties in areas designated by the President as federal disaster areas.The regulation, including its exemptions, is still in effect.Quick Links and ResourcesReview the Federal Register Notice (Docket No.

In my first couple buy and hold rehabs, I took great care to design the finishes.