(with 3 electric meters, 3 gas meters etc etc)Property is empty and is corporate owned per MLS description. 

Here's what I put in:Income (given in the property description): $1895Expenses:Taxes: $245Insurance: $55Lawn/Snow: $50Vacancy $100Repairs: $200CapEx: $100Mortgage: $750Total: $1500That gives a cash flow of $395/month or $4740 annually.Cash on Cash ROI:Down Payment: $4800 (given what I have now in the bank I could use to invest)Closing Costs: $3000 (just went with what BP had in the video)Rehab budget: $1000 (it looks like there's tenants already living in part of it it so I'm wondering how much could even be done right away, if much at all)Total: $8,800Divide it out and you get the ROI I stated above.

I would get it rectified and then sell the property and move on.. landlording is not for everyone unless you have the mental and intestinal fortitude like @Thomas S. is talking about your next tenant could be 5 times worse especially given the description of the home and area.I would sell and move on..

Join these groups, make a post with some great pics and a solid description of the property, and I'd be surprised if you didn't get some interest.

Maybe your description is overly simplified but based on the information provided, I don't see how you make money.You are paying today for tomorrow's equity.

Maybe its a new category like a fee for services job description that should be a profession and not some cheap shirt.

It's part of the job description of a small-time landlord who manages and maintains his own properties.Sit down and talk with your tenant about the dog, then come to a decision about what to do about the situation and stick with it.

Example payment schedule: Initial deposit, City approval of zoning drawings, completion of Construction Documents, etc etc.Detailed deed lot descriptions can be provided via email if interested in providing a proposal.

i'm looking for the forum's advice on the most efficient/effective way of weeding out properties. i'll be living in the property for at least a year. while i live there, i'll be living in it (so property can't be a complete rehab), fixing or improving the property, and then either flipping or renting out the property. i've looked at about 18 properties the past 3 weekends (i just started 3 weeks ago). the 18 properties were chosen based on 2 broad criteria: 1) based on pictures, description, and google street view, choose properties close to the metra (in illinois), in a location with a great high school (>=8 score), and in nice(r) neighborhood.2) look at zillow for an idea on property values in the neighborhood so that i'm not buying one of the most expensive houses in the neighborhood. if i feel the house i'm looking at is somewhat undervalued because it needs work and there's some room for me to flip, then house passes.this criteria has helped me weed out 100's of properties, but takes me a bit of time.i'm curious, is this a good start or are there other ways that the full time/professional investors use?

But I doubt this is the case from the sounds of it.I have purchased properties before where there were incredibly complex title searches, where multiple estates were involved, heirs died without a will, hand written deeds in the chain with incorrect or incomplete legal descriptions, etc. - and in instances like these, I've paid the closing attorney upwards of $1k - $2k just for his fee alone.