If you can buy a deal with zero of your own money, and have 0% interest financing, you've hit a grand slam.

Turn over was 8 grand.

I am living in Grand Rapids, Michigan and am interested in investing locally.

With that budget, your primary options are Colorado Springs, Grand Junction and Pueblo(crap-hole).  

@Jacob Wohlgemuth well 4.5 acres could be a couple million in the right location or it could be a couple grand.

It is all about knowing what is selling and who is buying.If nice houses are selling for a couple grand and there are for sale signs on every couple of houses as you go down every street you will probably not be able to get anything cheap enough to get a spread.If there isn't great inventory and the ones that sold that cheap are fully gut rehabs (While yours is at least livable) and there are solid rents you might be able to do great.

Just wondering cause I see many be 1/2 grand usually for lists or more then I see a simple call to your local  know where to call company. 

So, if I'm doing that math right, it would be 25% * $118k = $29,500 plus the state recapture tax of 10% * $118k = $11,800 for a grand total of $41,300. 

There are not the ones to be concerned with in the overall grand scehme of thing.

v=4Toj8iHt-u8You hit a grand slam on your first deal.