This puts these properties in the 1.4-1.6% rule range, which nets me 4-6k in cashflow after debt service, all estimated expenses and management fee (remember you could definitely do your own management, but you need to anticipate future where you might not want to respond to toilet calls at 2am anymore or can't handle 10+ properties with your full time job).

I got an inspection report back for my first property (2 unit, 1BR up/3BR down).Here are some specs about the deal:- At minimum rents, it would cash flow $443/mo- COCROI = 12% Inspection reveals a lot of minor problems that I could fix myself (leaking water from pipes/outside, blackwater sump not covered properly, loose toilet, et al.) but I'm wondering what BP thinks about the foundation cracks that were found in the front of the house (see images below).

I got the feeling that since foreclosures are such a big deal, legally (recall Wells got sued for improperly foreclosing) that they have their steps to take and they take them.Also, they pay their RE agents SQUAT, so it does not cost the bank a lot to avoid the costs of putting it on the market.

You won't make squat as far as income goes but within two years you will have hands on experience and education you can't beat.  

It's small, but there's a full shower / tub, single vanity and toilet in there.  

It's a real fixer upper - little updating for the last 20 years, leaking toilets, some old water damage from a leaking roof (I mean LEAKING).

Use a high-beam flashlight to check under all sink areas & around toilets.

Oil prices are in the toilet and the recent growth in the population of Wyoming and Cheyenne area was driven in part by the fracking.

No tenants, no toilets, no lawsuits!

I know a lot of people investing today did well from the crash due to jumping into the real estate after the crash and buying up houses but what happened to everyone that was in the hustle before everything when to the toilet?