Tenants pay all their own utilities.

Thirdly, while your strategy of self funding the down payments will work, it is not sustainable. 

Account Closed  that's one way to do it, these are so cheap just throw away the ones that don't work after running cost your probably netting 350 to 400 a month over time. so in 50 months you have your initial capital back.. the proof in the pudding will be how you do in year 2 ,3 ,4 ,5 ... any market is sustainable in the first year of a new rehab..

Without sustained wage growth, rents can only climb so high.

Doing the math on the property with a traditional 20% loan it looks something like this Purchase Price (Max Offer Price) $90,000 Percent Down 20% Down Payment Amount $18,000 Amount Financed $72,000 Interest Rate 4.85%  Closing Cost $3,150.00  Costs of Repairs (Make Ready) $7,000  30  Mortgage Payment $379.94   Rental Income Monthly Annual Unit A $1,050.00  Vacancy Rate 5%  Net Rental Income $997.50  Expenses Monthly Annual Property Management Fees $105.00 $- Leasing Costs $50.00 $  Maintenance Reserve $60.00 $ Utilities $12.00 $-  PropertyTaxes $45.83  $ Insurance $80.00  Total Expenses $352.83  Net Operating Income $644.67 Net Cash Flow $264.73 HELP PLEASE, this looks like one of those properties I would be fool to let pass by.

Investor agents sell a dream too, but it is just a much more sustainable one :-).

The house is in good condition but there was a utility disconnect tag on the front door.  

Hi, I've heard a few times from Brian Gibbons about utilizing seller concessions over rent credits.

They will run Lexis Nexus searches on you to see where your car is registered, what address your utilities are on in, where your mail goes, ect.  

If you can only get 149k and have to pay 6% commission, you are down to 22k remaining to pay finance costs, closing, utilities, taxes, insurance and your profit.