If the property doesn't appraise in that range, I am prepared to pull cash out of my working capital to subsidize the difference.  

If I pulled the trigger on this, I would probably try and oust the tenant in the 2 bedroom apt and get someone else in.

Vacancy rate I used was from actual numbers I pulled from the cities housing database.

I'm just starting out. i have financing and a team in place ready to start i just need the right deal to start with. i had a offer ready to place on a house last week, but...I hesitated... and it went under contract before i pulled my head out.

Truth in advertising: I'm no newbie but have not yet operated this full strategy, but have seen more experienced investors pull it off.

I pulled up this afternoon to finish up the apartment and give the landlord a call and they had already began flipping the apartment and threw my personal belongings in the garbage that was left in the apartment when I was cleaning today knowing I had until the 31st.

Be gentle with me!

Can someone please do me a huge favor by pulling a list from Listsource for a specific area I want to target?

It was listed at 169,000 and we got it under contract for 157250 with 3,000 back for closing.It's a 3 BR, 2 BR single family w/ a partially finished basement.One of my exit strategies since I must live in home for 5 years in order to not have to repay the 20,000 grant - is to rent out then3 brs up stairs with private bathroom, and full house access for 1,000.I test posted an ad on Craigslist as was getting 1 person a day interested in it.I would live in furnished basement and after 5 years and 20,000-30,000 of mortgage paid down by the renters - hopefully sell for the market value or hold for my rental portfolio I am starting.It was hard to use the calculators for this because I was renting and living but I calculated 1400 expenses including 5capex   5% vacancy full landlord utilities and all that jazz.Seems like it would still cash flow $100 if you could rent it out for 1600-and break even for 1500.But I was more or less thinking of getting some instant squirt to pull out later in 5 years after sale or just in general to use for more deals.Also wholesalers in Rhode Island I am looking for you.

Some lenders will not even pull your credit score.