Only if you have enough savings to cover both mortgages if the market turns bad and you lose your job and can't get a tenant for the rental.

There are already statutes and regulations regarding fraud and deception in real estate transactions.Educating people who want to be educated is fine, but if a governing body restricts the pool of ready and willing buyers, more properties will go to foreclosure and sit on the market longer.Real estate investors perform a vital function in every jurisdiction: putting properties back on the market, in good condition.Many of the properties they buy could never pass conventional lender's inspection because they typically require tens of thousands of dollars in repairs that most homeowners do not have or cannot do themselves.Additionally, many real estate investors near metropolitan centers can access almost an unlimited pool of funding to buy and remodel properties if the numbers work.From contract to close, the time can be in as little as 3-4 business days.The delay is mostly waiting on title companies.So when flippers mail letters and post cards to owners saying they can "close quick" and "all cash", that is a fact, not fraud.Of course, realtors will recommend you list your property – that's how they make money – so they are self-interested, which makes the report biased.Maybe next time you can have a "flipper" on you show for balanced reporting.The idea of anyone feeling "pressured" by getting a post card or flyer is ludicrous.If the homeowner doesn't want to sell, the solution is to throw them away.But the idea of "there ought to be a law" is equally ludicrous.If there are bad actors committing fraud, the answer is to enforce the laws already on the books.Out of all the properties posted for sale every 1st Tuesday of the month at the trustee's sale, a very large percentage never make it because they are bought by the very flippers you disparaged.If not for the real estate investing community, cities around the country would look much, much worse.My biggest complaint with your report is that you completely failed to get the rest of the story.Your editor needs address this."

A bad investment today doesn’t just turn into a good investment over time.

I have a property in Milwaukee with some good tenants. What I mean by that is they pay their rent on time and I get no maintenance problems. I thought everything was fine until I received a letter in the mail from one...

This is why their ARV and renovation estimates are so far off and why they pick up properties in bad areas, making most deals a disaster for anyone who falls for them.Personally, If i were you, I would get my own real estate license, become a broker and learn as much about real estate and my target market.

It could likely give you a bad taste for doing future deals.

So you are essentially looking at 1500 a unit for a 3bd- 1200 a year for insurance seems low, to be honest- unless you got a quote for this prop 2160 a year seems low for taxes 1200 for lawn/snow a year is high... this winter was bad, and it also depends on if you have a driveway etc or just street parking Closing costs- you can get a good faith estimate from your lender- they may be a bit higher Also, you want to consider if you would be inheriting tenants.. or if they are way below market rent, 

And my credit is terrible due to some bad times where I had lost my job suddenly, so right now I'm in credit rehab mode (or at least not making it worse since I have a new job and things are back on track).Mortgage balance is about 130K.

Are bad sewer lines a problem for the area and property age? 

Roof leaks: Bad roofing job and poor flashingIce damns: Poor insulation/ventilationThere are other reasons for mold in a house, but the most important part is to get rid of it permanently.