I just acquired this home for $1 over banks offer.

Did you acquire the property through mls or wholesaler?

@Dave Snider Acquiring properties on the North Side that meets the 70% rule is going to be really challenging, not saying that it can't be done, but in Washington township and Hamilton County it's going to be tough. 

I've got 6 SFRs in my name acquired this year with cash.

Jamie, Everyone has their own real estate portfolio goals and you have to figure out what strategy works best for you.Currently, I have one B type SFR property in a C type neighborhoodone B type SFR property in a B neighborhood, and I have 5 A type SFR properties in an A neighborhood where the schools are all rated 10/10/10 and were all acquired brand new in the last 5 years. 

If you are looking to purchase a home with a reverse mortgage you will have to payoff the loan at closing to acquire the property.

If you have the property under contract it is important that your knows your intentions in my case they know a general statement, "I am and investors who acquires properties either to hold or to flip and in the process I just so happen to help people in urgent need to sell quick".

Acquiring these properties allowed the mission to continue which was more valuable than trying to make a deal on the front end.More to the investing side, if it doesn't eat any hay, it's marketable as to location and basic condition, insurable and can cash flow worth the time even at a break-even, buy it!

Speaking of wholesale, many of my commercial deals were acquiring an interest or option and reselling the whole entity.

My long term goal is to use my construction experience to fix and flip for myself and others to acquire the funds necessary to purchase buy and hold or fix and hold properties.