With a loan of say 350k, and paying property management, it should still provide net profit of about 4k to 7k a year in year 2.

Many of these were lost in tax sales, and the ones that they got re-performing underwrote loan mods at low single digit interest rates during ZIRP and could not resell them at a profit once interest rates were hiked.

However, it increases costs and administrative work, like filing fees and bookkeeping.Tax-wise, LLCs are pass-through entities or disregarded entities, so profits and losses flow to your personal return, but managing multiple LLCs complicates filings.

There will be plenty of deals out there so if you're not getting the time you need I wouldn't pursue it. 

Purchase price: $160,000 Cash invested: $30,000 Took this home from bad to glam in 1.5 months for a healthy profit.

I would want to see if you could partner up with someone and split the profits 50/50, 60/40, or 80/20..

While the terms on the assumable loan and seller carry are attractive, confirming NOI, expenses, and lender terms is essential to ensure it’s a viable and profitable deal.

Do you have any insight for me - I really just want to break even; profit would be a bonus.   

At the acquisition price points, and the market value of the units if you do decide to go wit a pm you’ll find yourself not being very profitable as most pm’s will charge $75 per unit min or 8-10% of gross rental income.

This decision not only maximized immediate profits but also enhanced positioning for future investment opportunities, demonstrating adaptability and a forward-thinking investment approach.