Financially, I probably leave a little on the table, but it's far far less time, and that is what makes it worth it for me as a part-time investor.The lowest below market that I have ever gone is 20% - but that was a special circumstance and not something I would advocate.

What you are looking to avoid is leaving it up to contractors to low ball and then hit you with all the "unforeseen" problems when you have little choice but to absorb more costs and blow up your budget.

@Gregory Jimison depending on circumstances it could be the same day.

It's not so much what market aspect you begin with as much as it is the type of property, the circumstances that exist before you begin your approach.

It's certainly more risky and you should expect higher maintenance and unforeseen issues popping up during the rehab.

That said, we have also had tenants whose circumstances changed and couldn't make rent; they then had to move.

Under no circumstances may investors use the exceptions described above to circumvent FHA's ban on loans to private investors and acquire rental properties through purportedly purchasing "principal residences". 

They chose different personalities for each caller, they choose the motivation and circumstances, you can set the rest, property info for them.

Now with our new circumstances we figured it was time to look, plus with her not having any income and having animals, renting was no longer a viable financial option.So here we are today, looking at Single Family properties. 

They tend to not appreciate as consistently and as high as SFH in most circumstances, IMHO.