Thanks Dennis, I think you're right that planning for a more conservative return would be a good idea.I re-ran my numbers at an even more conservative level:Lower ARV: $800,000Lower income levels (I'm assuming it will take a couple years to get up to full potential income, but giving myself 3 years was a conservative estimate):Year 1: 50k (NOI $1,000)Year 2: 80k (NOI $31,000)Year 3: 100k (NOI $51,000)My ROI numbers come out to:1% (year 1) 46% (year 2) 76% (year 3)This scenario seems like an acceptable risk to me, when the upside seems far more profitable.

If you scale and buy a couple more mats, this becomes more realistic.Laundromat vs.

Based on what you've said here, I'd probably rent it out as-is for a couple years and then 1031 in to a higher quality area. 

Within a couple of days, our neighbor said that they smelled weed from the backyard.

There are others but those are some of the more recent ones I have talked to (in the last couple weeks) that had the best offers.

My name is Taylor, I'm 18 and want to become a real estate investor in the next couple years. 

I see the same (professional) Tenants coming to my Court every couple of years, with a NEW Landlord.

I can't remember the cost, not too bad, but no phone callsI sent out 1,000 mailers (letters) I designed in envelopes a week for a couple of years and made a ton of money buying properties using "creative finance" some call subto.

I got bit a couple years ago and went from a 6% rate to almost 10% rate.

Expect to put no money in your own pocket for a couple years.