Anyone using the above has to factor in all the closing costs, carry costs and other expenses.

As John noted, VISA status will not be a huge factor.

Time is your factor here.

As you noted there are some factors that impact the condo value that do not apply to SFR.

But pretty rare. 70% less repairs deals are scarce enough.The formula comes from two factors.1.

"Leverage" is only a big factor if your bank accepts checks with % signs instead of $ signs, mine doesn't.

They generally do not know the laws.Ryan's point about motivation is definitely a factor.

and I don't know much about VA loans/assumables, so that's another factor...UGH.

Commercial loan options that require less then 20-25% exist in bounty---97/95/90 LTV/CLTV commercial financing is available from a number of sources varying on property type, occupancy and other factors not mentioned.Unlike residential loans, legal entities don't get the bad rap with commercial lenders---the same estimates I provided above would apply.

You might be looking at more like 20% off.Either way you need to factor 10-15% minimum of ARV (depending on your financing and how much a realtor/auctioneer is charging you) for holding costs, resell costs, and closing costs.If you buy it for 190K, you sell it for 220K, and it takes you 2-3 months to actually close on it when selling with a 10% premium to the auctioneer and closing costs, you just broke even while taking on a tremendous amount of risk.Keep in mind when auctioning it, the auctioneer could take upto a month to market the auction and then the buyer will still probably have 30 days to close.