But if you want personal involvement and running around, it's going to take more than the eventual promise of a commission on a lowball offer under current market conditions.

As with most places here in Spain one can find many properties still in their original condition that could prove to be potential opportunities. 

Once you determine the current condition and life expectancy of all major components and appliances you can adjust the CapEx reserves requirement.What are you including in the $200 Misc?  

@Sean DawsonIf your thinking about doing it in Columbus it might be difficult given the market conditions..I think in most cases besides eating capital gains seller would prefer a lump sum of cash at closing..Sellers would consider a take back note if they have difficulty selling the property, hiding a deficiency or need to unload it quick..

Would you want your young children bused by someone with her medical condition? 

If I could find pretty places in perfect condition at a price that penciled, I and probably anyone would rather skip the fun of a rehab, right? 

After I do that I want to buy apartment Building or mobile home park with 16 or more units, b/c condition in a b area with deferred maintenance.

Too many administrators and too much emphasis on "social issues".

@Jay Hinrichsi appreciate your personal examples. it makes me stronger to say no to deals that dont make sense. i dont want to be owning rentals for the sake of ownership only and brag about them in social circles. its a business and needs to make financial logic for buy and hold investors like us.now if the market went in a stall mode, wont mind adding to portfolio if the numbers made sense again

But I offered $200 cash for keys and they are voluntarily gone leaving the property in a clean condition today.