Historically speaking that is difficult zip code to leave with a profit.2) Who will be managing the properties?

We have come to the conclusion that flipping homes is the easiest way for us all to profit. 

On your end, it would be in your best interest to refi the property as soon as possible to maximize your profits.

I did a duplex, where I lived, for my first deal a long time ago and it was a very good learning experience (and a little profitable). 

If positioned properly, probably more profitable in 5 years in comparison to most cash flow investment strategies.Here's my take on the matter.1.

View report*This link comes directly from our calculators, based on information input by the member who posted.Is there a way, I could make a profit off this property if I am playing 8000 for it

The best way to optimize a profit and increase return to the owner would be to partner.

This situation isn't one I'm looking to profit a dollar from. 

That sounds smart to wait 4-5 years and cash out for a big profit, while getting good cash flow in the meantime. 

This will actually give you some room to make a profit.  10% of the ARV is already allocated to selling costs (realtor commissions, closing costs, and property transfer taxes), another 10% will be towards your financing costs and holding costs, and then you'll have 10% leftover in profits.