@Brian Snell I think this is a great question about the lease purchase or lease option business.Lease purchase or lease option business planning is got nothing to do with wholesaling (e.g. buying the property as cheap as possible price or optioning the property at the cheapest possible price.)Lease purchase or lease option business planning has to do with positioning yourself as a problem solver.

Put curtains or cheap blinds to keep people from seeing in that it is vacant. 

You can't buy houses that cheap in the areas we work in currently though, market is up. 

We have a good ins broker here in town, he gets reasonable homeowner's ins for our owner fi houses, and the car ins he just got me was incredibly cheap. 

I doubt you'll get anyone to even HML (80/20 LTV) on a property that is selling its NOI that cheap unless it is explainable.

The $250K price you mentioned would be cheap for Downtown DC and would probably cash flow nicely. 

@Rumen Mladenov $1 million liability is very cheap.  

If leasing, then cheap tile backsplash and either Formica or Silestone counters.

After the rehab, we generally re-apply for a landlord policy and cancel the first one.A big part of this being reality is huge losses to the insurance companies where a so-called "investor" buys a property cheap, insures it, and then a short time later has a catastrophic loss and a large payout from the insurance.  

They offered to pay $150 more per month just for a few cheap furnished items I provided and already were paying 200 more than I had originally asked when I was only adbvertising to select group of people (mainly not college students).