For me, it was these cheaper SFHs in an A-Class neighborhood and I figured if there was something terribly wrong, either the seller (yeah, right), the realtor, the property inspector, or the property manager would let me know.

That could be a good deal or a terrible deal.

This is a terrible thing and we all hate that it happens but we shouldn't pass judgement on strangers seeking advice on the best way to deal with it.

I agree with everything said, just move on from this terrible deal and be happy that you did your due diligence and can sleep comfortably at night. 

However, his credit score is TERRIBLE (528).

I currently have a full time job and a busy life in general but real estate is my passion and so I just purchased my first rental property about a year ago and am itching for another very soon but what I have come to realize is I am absolutely terrible at the tenant screening process... now obviously that poses quite a big issue seeing as screening is the most important thing.

She then proceeded to send us pictures of a terrible and massive leak that came through her front window every time it rained hard. 

I'd say you could go 45 mins out and it wouldn't be terrible.

Updated the worksheet and even if I end up paying 5%, Cash on cash return isn't terrible)PMI $2,400Total OPEX $23,094Net Operating Income $17,946Less:Mortgage Payment $15,432Cash Flow $2,514Less:Depreciation $7,000Add:Principal Payment $374Taxable Income/(Loss) $(4,112)According to my calculations....Loan to Value 95.00%Cash on Cash Return 7.74%Cash Return on Assets 0.91%Capitalization Rate 9.32%Rent Ratio 1.31%Gross Rental Yield 15.71%

@Christopher Brainard man thats a terrible situation.