On paper, all the buildings required some rehab because they were purchased below market.  

Between signing papers and closing the house was broken into and the copper stolen.

I'm just paper trading here. 

So what you will have is a very good on paper profit after rehab but a terrible profit basis as the items get older and need replacing (because the costs were not evenly distributed). 

Today, cap rates (Return on 100% investment equivalent rates) are being compressed to below 6% (I've seen some negative cap rates), and at that level, good corporate paper is getting to be a better deal.

(There is a second property at 1024 Leithgow St in the paper trail to the 1528 property.)

I was just at my CE class and all the independent MLO's out source processing.. paying 300 to 500 a file for someone to just collect all the paper work and check the box's you become good at that and that is easy 5 to 7k a month as your own boss.My wife who is a top producing real estate agent pays her independent processor 400 bucks for each file ..

I have 5 properties in zip code 45403 and good help seems to come and go. what looks  good on paper quickly erodes when a once reliable property manager drops the ball.Best of luck to you , make sure you have support in place, visit the neighborhoods you plan to invest in and if I can be of any help feel free to call, text or email. 

I think that is why you see people frustrated with values.if your in low B to C and D markets an astute lender who has no control over the asset is going to give you a very low number.. and one who thinks they have some great amount of equity its just equity on paper the only ones that can turn that paper equity to cash are TK companies with high priced marketing campaigns selling to West coast folks that just have to own a rental because they are priced out of CA. 

For instance this shows on the right side of the screen Tax Liens, Notes, Paper, & Cash Flows Discussion Last post about 2 hours agoLooking for some guidance on servicers and and forced placed insuranceHowever when I follow the link to the forum it shows this as the top most recent thread:DiscussionRepliesLast PostA Note Question To This Forum on Why...