If that number factors in maintenance, vacancy, capex reserves in addition to both principal/interest payments and the taxes and insurance I would definitely do the deal. $2580 of annual returns on a $0 investment is a hell of a return. 

Recent bank statementsEmployer letter that shows salary, time of employment and posiitonTwo years of tax returns Pay stubsLandlord reference lettersCredit report

Look into tax delinquent properties, pre-foreclosures, probate, bankruptcy Chapter 7 liquidations.

Im here looking for advice on being a more successful landlord, information on flipping properties, and right now specifically tax lien purchases and back tax properties.

I do happen to represent one who has a special product for foreign nationals.On the investment side, I am big proponent of Texas obviously because of a good mix of decent cash flow and appreciation, affordability, no state income tax and great landlord laws. 

Tax (listing claims ~$5900 annual, ~3%)$20 - Landscaping/Snow$284 - Vacancy (8%)$284 - Repairs (8%)$355 - CapEx (10%)$426 - Prop.

There are also other investment factors, appreciation and tax relief, depreciation and at the time of sale the recapture of depreciation, you don'y have these issues with other securities portfolios. 

He also has dubbed me "Mr Honest" for my information on reducing taxes.

Taxes have been properly filed each year to account for the rental income, however the first house listed has not been shown on taxes yet because we do not file this year's until next April.  

Later, it's sold and I receive 20% of the net profit.This is purely a money deal on my end (no involvement in rehab or rental).Question - If the property sells quickly (say, within 3 months), and since my profit is paid through a security agreement (I never have title to the property), how would this be treated for tax purposes?