I will keep pushing forward and do what I have learned.  

I'm not pushing or pursuing, will see if it plays out over the coming weeks.  

Just bought a 4plex about 4 hours north of Milwaukee and here are my numbers for your reference(I rounded up my dollars for simplicity)Purchase price of $125kRenovation of $12k (out of my pocket)Rents at $2300 total(expected to be near $2450 in the next 3 years)Utilities $250 a month average (Have a plan to reduce down to $175 a month)Insurance and Tax $500 a month(pushing for a reduction down to $400 a month)Maintenance $150 a monthDebt Servicing on $100k  is $700 a month (bank loan of 5.25% for 20 years)Debt Servicing on $25k is $200 a month (personal loan at 8% for 20 years)Total monthly expenses are $1750Monthly cash flow with full occupancy is $550At 15% vacancy my ROI on $12,000 of my cash is 20.5% annually.

I think they have pushed back providing health insurance for you after 6 mo and your family after a year or 18 mo, BUT there is no cost for it, and our out of pocket MAX for the year is $2k.

So yes, it would be speculating that the coming gentrification continues and pushes the value higher but I would have gains as soon as I purchased it.

Pushing 20k with my down payment and CC....FHA allows 6% CC to be covered by the seller so that might just have to happen lol. 

Scared, but not deterred we pushed on and closed.

I'm not interested though, unless this is actually legal.My main concern is that my _actual_ maintenance costs could cause me to have another loss year, and I don't want to push the envelope. 

And we had a couple of other evening calls before we got to the root of the issue. 

It seems every where you turn, someone is pushing systems on foreclose deals down your neck, yet not warring of any legal issues behind it.