Damn, that is a nice looking house for the money - I wish my market had similar options. 27k here buys you a whole lot of rehab!

Damn @Joe M..

Properties with outstanding building code violations 17.

I've said many times the real clowns are all the ones who failed as contractors due to having AWFUL people skills and who can't sell a damn job, so they become inspectors!

So one pilot was explaining how he damn near ran out of fuel flying from Scottsdale to Van Nuys and other were posting that they always take off with full fuel.. this guy decided to only tanker 17 gallons and hit heavy headwinds through the Palm spings corridor.. ( if you have ever flown through there its very windy) so he landed with minimal fuel and had to tell ATC he had minimum fuel which is somewhat embarrassing I think.My partner and I always fill up our plane when we land. so when we go the next trip we ALWAYs have full fuel..

I currently have 3 offers outstanding right now.  

When my tenants pay me all funds received first pay off any outstanding late fees, then it is applied to the oldest outstanding rent due. 

When I took Stats we were taught that "there are lies, damn lies & statistics".

Damn it. 

Based on those assumptions it would take a down payment of 39.5%, or $226K, to have break even NOI.Am I missing something major in my estimates/analysis or is this marketed purely as a "buy for appreciation cash flow be damned" investment ?