They both lack a real living room and that would be tough to get top of market 2 bed rents for, but $550 is pretty standard for 1 bed units in that area so if you market to that tenant base you shouldn't have a problem renting out.

I am quite certain I am the only one who cares about my money  :)  You are right-trust is always the tough part with humans.  

I think the tough part is selling the business.  

While attending school I've discovered that its not the route for me.I'm brand new to RE investing but have been watching youtube videos on leveraging, profitable cash flows, etc etc.I have bad credit due to past family altercations (sub 670) so financing is out of the question, but am debt free.So here is my situation, I have a business partner who owns a construction company and is willing to front all the labor costs of rehabing properties as long as we split costs of materials 50/50.

@Drew Oesterle,You're right that you are in a tough underwriting situation. 

I think I read Lonnie deals material before. 

However, it's a little tough in the current environment.  

While there are still some one-off deals for off-market properties, it's tough to find good rentals these days.

If they want to stay in your unit they will find the money and you will find out quick if they have the money or are just playing games.Lot's of times they have the money they are just shifting around to who will be sympathetic to them and not pay that person because times are tough and they still want to eat out and pay the cable bill.

No dividends to pay out either because there is no "profit materialized" if you view it from the business/accounting point of view for that financial year.