But he knows that I need to have it rehabbed and rented for 30k max, with a 10k reno budget, meaning a max purchase price of 20k.

I'm talking about ones who live beyond their means and don't know how to budget.

As such, it's possible I could come in $10k under budget, effectively making this deal 100% financed.

Sure some moves will happen, but much less than normal as people budget for how to pay for Christmas.I'm in the same boat as you with a vacancy right now, two to be exact.

We budget $800 for an eviction to cover attorney costs, filing fees, processing fees, sheriff service, and all other associated costs.

Also READ as much as you can on this site you will learn so much, also listen to the podcasts they are entertaining and full of great information.

Some banks, RBC as an example, will only entertain 5 residential mortgages {including your personal residence} ... and that's not 5 with them, but 5 in total.

Google Dave Ramsey Snowball Budget in Excel.

I've budgeted for between $12k-$15k in deferred maintenance issues to address over time following a purchase.The current landlords do not appear to be the quintessential buy and hold RE investor, as it seems this property was rental that was acquired via an inheritance.

So you choose housing that fits your needs and your budget.