Good points: New plumbing, new septic, newer water heater, furnace & a/c and mostly new electrical.

Unlike you, it's in a C class area and I bought it for Cash Flow.  

Two-bed REO houses in C neighborhoods were selling for under $20k 18-months ago, and renting for $650-700.

I understand how to crunch numbers but with 300 plus doors in a C+ grade neighbourhood what is reasonable vacancy rates?

I can only speak from personal experience but the renters I deal with (class C in Cincinnati) wouldn't jump complete those online forms.

Jamie, Everyone has their own real estate portfolio goals and you have to figure out what strategy works best for you.Currently, I have one B type SFR property in a C type neighborhoodone B type SFR property in a B neighborhood, and I have 5 A type SFR properties in an A neighborhood where the schools are all rated 10/10/10 and were all acquired brand new in the last 5 years. 

We are thinking 2-4 units max about "C" or "B" class with added value. 

Hi Nii Okai,You are right I am a newbie, and do not have an attorney or a title company.Per your suggestions I will call a Title company now and an attorney.See when you read books and people tell you the assignment is just A-B-C transaction, not all the details ae mentioned.

If possible, review the property manager's screening info because there are multiple tenant scenarios: a) good tenants, b) bad tenants, and c) good tenants that became bad given lax management.

Originally posted by @Richard C.: I believe you said in another post that you were a former broker?