If he weren't an agent but a bird dog and came to you with this deal offering a 60/40 you or 70/30 you profit split would you still say no?

It doesn't matter to the tenant if you can logically prove their current rent is below market, they'll still want something for the increased rent and they won't care how much deferred maintenance you've had to fix that their old landlords neglected.

Thanks for  your advise  Jonny Morris I am i have already run  the numbers its listed for 110k i estimate to rehab it for 80k 100k and the ARV 300k 320k.So what i am confused is what are the step by step things that i have to do after buying, for example hire contractor talk to the town or state for the permits and inspection in Newark nj there's something that's called the ccc when I have to take care of this appreciate your help

@Jon Holdman, it's been taken care of and thanks for the help.

I was told that the houses our very well taken care of and part of the program includes keeping the clients busy at all times so their minds don’t wander.

Take care.

Rents are $17,700  with tenants paying their own utilities and total costs are $12,030 including the mortgage payment.(10% management $1770, 5% vacancy factor $885, maintenance $885, lawn care  $900, 10 % Cap ex $1770, Payments $5820)This leaves $5670 dollars a year in cash flow for a ridiculous 56.7% cash on cash return! 

Now the more experience you get and the more money you have to invest and gamble then speculating is not so risky but given your circumstances just be careful and really try to hone in on a value after repair.

Hey Vincent,I'd be careful about these companies that are selling "tricks" to investing.

They care nothing about home owners or landlords, if they did these process would be clear cut 9 times in 10 and would never require a time extension.