Also did they make you an offer or expecting you to come back with one?

I agree that Drexel Hill is a nicer area and I would expect rents to be somewhat higher. 

My 2 bed, 1 bath rental in Cleveland is essential 80 dollars a month for sewer and water (total)So if you had two units I’d expect about 160.

It seems a little difficult at first when I have no idea how much to expect in repairs, vacancy rate, property management costs etc. 

You would absolutely create legal docs that outline the expectations of the loan and the repayment.

So you can either lower your return expectations or lower your bids when making offers.

I would expect one may be able to go a little higher than 70% as long as the numbers still work and the property is still cash-flow positive.If these questions are already covered in the forums then my apologies as I have simply not made it that far yet. 

Expect broken cabinet doors/hinges, holes in walls, broken window treatments, stained carpets, and walls that need complete repaint.  

I liked this episode a lot more than I expected when I read the description.

So he was expecting $75 worth of moonshine for a one night stay worth $100.