. - Yeah, I think it's a little less than other things in the area, but it should also be free of the headaches I'd have to deal with for something with better returns, since it was completely redone only a few years back.

We can expedite that process if we can come up with the abstract from when my mom bought the house in 2004, but that abstract is in the hands of another attorney who helped my mom when she bought the house, and he isn't returning calls.We'll pay the $750.

Better yet, calculate it as your cash on cash return, your return on investment, or return on equity. 

So responding to your post, the subject property was originally listed at 119k I believe if my memory serves me.

@Spencer GrayThe immediate play is to cut expenses by fixing exhorbitant Water/sewer bill.Immediate planned rent increase by $100/unit as is still below market.Near term interior repairs is mostly to satisfy point of sale requirement per the city.We will resist over-renovating as there may not be enough return on the upswing in rent.I’ve seen the data you referenced re declining population.It just doesn’t bother me a lot when you’re investing in a large metro.I would be more concerned if you’re playing in secondary markets.

In order to cashflow, it seems you would need to have a strong equity position, but that would still provide pretty low rates of return. 

However, in 3 families buildings in some parts of Queens, I can find 6-7% returns.

If all offer similar returns, then figure out what type of investor you’d like to be.  

I have been staying home for the past 3 years, raising our son and won't be returning to work for another 6 months. 

@Adrien GaelHi Adrien,I love to hear that there are more and more foreign investors doing flips these days...as for your questions - 1. foreign investor does not have to pay self employment tax2. the 15% is refunded on your next tax return.