The downsides are that if you allow them to know it, your tenants will be banging on your door on a regular basis.

The money I'd need just to get in the door would be much, much higher.

Numbers below:Purchase price: $125,000Down Payment: $25,000Mortgage payments: $6,084/yr (PI $507/month @ 5% 30 yr)Rental Income: $16,200/yrVacancy 5%: $810Property Tax: $900/yrInsurance: $800/yrProperty Manager 12%: $1,900/yrMaintenance: $2,400/yr ($100/door per month)Utilies: $300/yr waterAdvertising: $200/yrTotal Operating Expenses: $7,310Net Operating Income: $8,890Less Mortgage Payments: $6,084Total Cash Flow: $2,806Cash on Cash Return: $2,806/$25,000 = 11.2%Any errors in my numbers?

If you are really worried about it, you can start the eviction process by posting a Notice to Quit on the door (3-day notice).

Yes, they are of the NOD, so as of yet, NO response, so I can always door knock, yellow letter.

Anywhere between next door and 1-2 hour drive away.

I've never seen that "abandoned" notice but I did go to one vacant short sale where personal mementos and clothes were thrown all over the place, and the back door was wide open.I think it is good news for you as a buyer, if you are interested.

For example: a 3 bed 2 bath brick home with 1,300sqft with a 2 car garage here in Memphis can be purchased for around $65k and will rent for around $950 while in LA that home might go for around $250k+ and only rent for around 1,400.

For instance, on rentals the cash flow has to be $200 (for SFDs) per door and the ROI (on the down payment) has to be 20% at a minimum.

Craftman style, decent neighborhood, needed significant work and great houses around it.Upon further inspection, it was partially worked on inside, some new sheetrock and paint, but it didnt look like anyone had been there in a bit.Knocked on the neighbor's door and after some chatting, got the owner's number.Long story short: meeting the owner this week for a formal tour, talk numbers, take my mentor and then maybe my first wholesale deal!