That makes sense although given that I am new I couldn't be as hands off as you describe (yet it is good to keep in mind for down the line).Now, I would want to see multiple properties in multiple areas of town to get familiar with them, the costs for the area and possibly pay for a contractor's time so he/she can show me what to look out for and what the costs could be.This would be needed for at least some time before I would be comfortable enough to pull the trigger on something.I just red J.

.$2540 with 8% vacancy $2336.8 expected rent$2336.8-$1526 = $810.6 Current Cashflow I'm probably going to build a garage for $20k so I can live in one of the units, and rent the other space for $50 a month.The home is in Tower grove east, but barely.

Usually red flags stick out clearly on their profiles.

I just want to make sure that there aren't any red flags that I'm missing, and that I have a decent sense of the mechanics of the process.Also, I'd like to learn more in general so if anyone has recommendations for other investors, or professionals/attorneys who would be willing to talk for a reasonable fee, with experience in the following areas I'd very much like to connect:- DC foreclosure law, and the treatment of personal possessions remaining in a foreclosed home- DC landlord tenant law and the eviction process- Title searches and other due diligence measures (specific to DC) - Ideally I'd like to sit down with someone who does this for a living and walk through title search and other checks that one would do prior to buying a foreclosure.Thanks in advance and look forward to any thoughts or insights!

Requiring 50k in earnest money should send up a hundred red flags.

If they made DTLV nice enough a lot of those people would create a demand by living close to where they work.There was a very strong buzz back then about cleaning up downtown bringing businesses in, tearing down old slummy properties and building luxury condos etc all over the place.After Sam Cherry and partners built Soho Lofts (the first tower to be completed downtown) the seal had been broken and it looked like DTLV was on its way to becoming an attractive place to live to professionals, young hipsters, etc.With all of that being said I got in on the preconstruction phase of the second tower being constructed back then.

I'm an architectural designer living in Redding, Ca.My interest here in BP is to learn the mistakes / successes of others developing real estate.

don't forget to consider communication towers 

I ask because they claimed to be 6 years old yet their website domain is only 5 months old (lying about how old they are is a glaring red flag to me).

If you'd like, inbox me the details and I can take a look at it and give you my opinion.As far as holding this property and renting it, based off of your numbers you will be in the red and not cash flow at all.