I have a paper screening and then only run credit background on candidates that meet a basic criteria rejecting one before moving on.

@Alexander Zurn In my area, there is a paper mill that spreads odor's throughout parts of the county when the wind blows.  

Why on Earth would you want to throw all those advantages away to chase short term paper cash faux in a high CAP rate market that you are not familiar with, which is thousands of miles away, and where you would need to depend on the kindness of strangers to manage the properties with your best interests at heart and make or break your investment?!?

It’s all risk vs return, the $250k/house suburbs are super easy to rent but are a complete non-started and the $10k houses make money on paper like you are starring in Breaking Bad (but the actual returns are horrible). 

How many of these properties cash flow models will start going down the toilet?

And I love walking up to a physical object that I just bought to make me money (compared to other investments that are just numbers on a screen or sheet of paper)!

I just do on the spot paper applications at this point but I have a record of who toured first and who contacted me in what order (in this case, the same family.)

@John McAuley  What's opposite the toilet?  

I'm looking at purchasing a condo from a turnkey company in Indianapolis and it looks good on paper but wanted to check with you folks.Here are the numbers:Price: $65kRent: $1075 (2bd 1.5 bath)Expenses (PITI, PM, HOA): 697.8310% Vacancy, 5% Repairs, 0% CapEx (turnkey comes fully reno'd): 161.25Cashflow $215, ROI 16%Looking at the MLS, the condo complex has a dozen other properties currently listed for sale and they've all been on the market for some time now.

Sf is 800 on paper, but really 1040 when you add the illegal addition that was put on the backside.