Even so with my calculations the cap rate should be closer to 1.75% without adjusting the rent.

The properties are inspected, and any outstanding inspection items are cured.4. 

I assume you’ll have it inspected to ensure there aren’t any unforeseen issues.

, walking through with my realtor is going to get me nowhere closer to knowing WHAT I should offer for either of these. 

I went this route because my credit score was low and the only way I knew to get a property for the amount of money that I had without credit was to get it at the Sheriff auction all cash.While inspecting the property that I bought at Sheriff Sale the neighbor of the property recommended a house that was 2 doors down.

Do not rent to anyone from out of town unless they do a personal inspection of the property first.

Right now I’m paying about $1,100 a month to live there, but after tax benefits and principal paydown I’m paying closer to $750 a month.

@Dan Barli thanks for your time and help,So yes I would buy it in cash,I just don’t know how much a title, inspection, attorney, taxes, transfers, etc. costs

Hopefully, you did an inspection with your tenant before they moved in and they've signed that everything looks fine. 

Overall, this seems like a significantly overpriced property, one which I would likely need to bring the purchase price down to closer to $280,000 for this property to make sense with a 19% cash on cash and 8.9 cap rate.