It is with a company that offers co-ownership in a portfolio of 10 rental properties for instant diversification, 9-11% cash flow on rental income, and mid- to upper teens ROI on a 3-5 year holding period.

Borrow some money, buy a fixer upper, fix it, sell it, take the money you made and put it into another project or a buy and hold at that time.

I ran the numbers and would love some feedback on things that I am overlooking or mistakes that I made in my calculations.Here is the property listing: http://www.zillow.com/homes/for_sale/Provo-UT/1190...I did these numbers as if I was not living in the property, hence the two rents.2841 W 1680 N$184,000$6440 down (FHA loan)$177,560 mortgage with 3.8% interestExpensesMortgage: $827Taxes: $70Insurance: $50Vacancy: $75Repairs: $150 (old house)Total Utilities: $150Property Management: $150 (eventually)Capital Exp: $150 (old house)Total: $1662IncomeRent (upper level): $750Rent (bottom level): $750Total: $1500Cash flow: -$162It looks like I would have a negative cash flow so this isn't a deal.Although it might not be a deal, how are my calculations?

I am currently a biology post-baccalaureate student at Hunter College located on the upper east side of Manhattan.

While I like Gentilly and will continue to look at possible investments, I am focusing my efforts in nicer areas like Midcity, Upper Bywater, New Marigny, etc., as there is more value there and much a better pool of rental tenants.

The other advise is to use the search feature in the upper right hand corner of the page.

Try to get a 203k loan and find a fixer upper.

Rust belt ,, rural upper mid west etc etc.Very difficult in the markets that have rebounded.. 

What price range should I shoot for, how bad of a fixer upper house should I get or even if I should get a fixer upper, and also should I look into he USDA "no down payment" loan?

I'm just about done with a fixer upper.