For this neighborhood, the rent is near the top.

House happens to be only a couple of blocks from my house & I know a couple of houses in the neighborhood sold recently for 120-130,000 & they were smaller.Does the FHA non-insurable mean that it does not pass code for FHA to approve a mortgage?

BTW - we have special ranks for people like moderators and those people who donate money to the site.

What's going on in the neighborhood?

.#1 Tax Sales are SAFE, #2 (ROI) Returns are GUARANTEED, and #3 All Tax Sales are GOVERNMENT MANDATEDSuggestion: Attend a Few Sales at the Courthouse in your neighborhood.

Check out the neighborhood; understand the comps; determine any repairs needed; look at the leases; etc, etc, etc.However, assuming all that is satisfactory, the key point with rentals is to make money.Here is how I see your potential deal:Gross Rents: $3,890Operating Expenses: $1,945NOI: $1,945Mortgage: ($99,900, 30 yr, 8%) $733Cash Flow: $1,212 or $151/unit/monthThis is an EXCELLENT deal from a numbers standpoint.

I set up automatic e-mail notifications for those of my clients who prefer to watch the market in their particular type of property, price range, and/or neighborhood and let me know if they see something interesting.

I have had good tenants tell me that this person that is always at their house lives in the neighborhood and is just visiting.

.; current SEV $162,400; taxable value current $145122From the listing agent: Nice old lady has owned them for 30 years; built in '70's; currently has one vacancy; all units are 1 yr lease; half of tenants have been there for a very long time (years); other 8 units turn about 1x/yr; great neighborhood; upscale community; walking distance to downtown; roof is 4 years old; hot water heat (LL pays); "A" propertyHave not seen the inside yet, from the pictures I've seen the kitchen/bathrooms are outdated.

But I'm focusing my R.I. in a littel closer in established neighborhoods.