This would require two closings, and you would have to come up with money for both.Although FHA is very useful for people starting out, 100k is a lot of liquid capital you can utilize on an investment property. 

Rents are currently $525 but all the utilities are included which cuts heavily into cash flow.

Here's what you're gotta look at that:GROSS RENTS minus:TaxesOwner paid utilities (water, gas, electrical paid by owner)Landscaping/snow removal paid by owner.Property management feeInsuranceVacancy and maintenance budgetsThat's going to be your net rent

Now for the numbers:Current Rents: $72,108 ($68,502 with 5% vacancy)Taxes: $16,759Insurance: $1,234Maintenance & Cap Ex: $3,268Owner Utilities: $2,400I am managing myself.With these numbers, the cap rate at that price is about 6% which is pretty good for the area in today's market, and thus how the seller is justifying her price.

(ie. non-obvious, trap questions to utilize during the tenant screening process).

If you rehab costs are extensive you can always wholesale the property and come out ahead depending on what you paid.  

Hey I am new here and was wondering if anyone is utilizing facebooks advertising platform yet to generate buyer or seller leads?

I am now looking to get into larger properties (my portfolio is duplexes and SFH) so I can utilize the commercial loan side.

We are thinking it won’t  be super hard to rent out the basement and get our monthly payment to around $1,000 including utilities.

I have filed an extension on my taxes, but want to get them done sooner rather than later.