You have to have a really great deal to find something in a good neighborhood and then you make a profit, your subs, the PM, the placement, etc... 

My only advice is to know what kind of property and neighborhood you're getting in to for $60K.

Once the problem is solved, you can unscrew/unboard and go on as normal if this is a tenant issue or keep that way if it's a neighborhood issue.

I have about 250k in a SEP IRA and a friend who is a builder who wants to invest in urban neighborhoods where millenials want to live...but banks are afraid of. 

:does this apply even if reported net loss in my federal filing after accounting for mortgage interest, depreciation and  expenses for maintainence and when acquiring the propertyi didnt file a city of cleveland return nor state as there was no net income Yes, you still need to file.City of Cleveland taxes are collected by the CCA (one of two contractor organizations that deal with municipal tax in Ohio, and definitely the nastier of the two.)

Hi i am new to investing and im reaching out for help analyzing a deal im looking into, it would be my first deal if i don't count the home i live on and i would use down money from a heloc on my home... here's the details: its two separate houses, one is $32000  1800sq ft 4 bed 2 bath currently has a $550 rental income tenant and theyre both appraised at $39500. the other is being sold for $29995 its 1212 sq ft appraised at $39500 also and has a 475 rental income they are in a neighborhood were homes around it have sold for around $70000... i would maybe use a fha loan at around 5% interest and i would also get a heloc on my first home to cover the down money... they need basic interior renovations but have newer hvac and roofs any feedback is appreciated thanks

The number 1 mistake I see new investors make is buying in bad neighborhoods.

What is the average rent in that neighborhood for the number of bedrooms in that house?

the gurus sell the idea of wholesaling as easy and no money down but that couldn't be more wrong. there is no guarantee return on the money invested in marketing . a wholesaler needs to do a lot, a lot of research to the local market where they are trying to find deals. you need to not only find the deal but prove that it is one to a potential buyer/investor. now Im not trying to discourage you, there are plenty of ways of getting started without MUCH money down .you can get a few cards made at a copy/print shop. you can talk to people and let them know what your trying to do. you can build a social media platform which is free. remember as a wholesaler your simply trying to find the deal then sell it at a commission. a friend of mine that is an agent uses their title company  to find information on houses in my neighborhood,  become friends with agents!.

If the answer is yes then begin the shopping in an area/neighborhood which has yet to see the full brunt of the bullish upturn.