You are entitled at the very least to get free copies of your reports annually from each of the major bureaus.I respectfully disagree with the person who said that disputing items with the credit bureaus is a complete waste of time.

but there is a lot of deferred maintenance, a giant termite colony so you have to treat yearly and the proximity to violence is significant.

The guy who lived there had not done any maintenance for years and years.

And then there are still the unpredictable expenses for maintenance and repairs that still have to somehow be paid.

Couple that with a nice double-digit CAP and annual ROI and you may have a winner.I think fire damaged homes are a great target for wholesalers.

We owe $98k on that & it's worth about $45k (rented out past 3 years & renewed 4th year last week).For the condo, between tenants, I spent $3200 with repairs/maintenance, cosmetic/needed upgrades, etc.I don't have them in an LLC.

If i were to go this route, my concerns would be the overall cost of purchasing several buildings (cheaper to buy one 16 plex rather than four 4-plexes) the upcoming maintenance costs.

As was pointed out, the effective rents will be well below $550, the maintenance and vacancies will be high, and the numbers don't work even if it is really cheap.

After including property taxes, insurance, property management, repairs, and including 2 months of vacancy per year (just to be safe), the BEST deals I've seen would only net me a 5% annual return on my investment.

How often do you adjust your insurance based on these factors, annually?