They didn’t completely destroy the house, I did keep most of their security deposit and used it for the repairs, along with some of our own cash.

It's certainly worth a phone call.

After my initial email contact with my mentor I wrote out a list of questions for our phone call and we worked our way through them during our call.

The $100-$300/month amount is just a generalization - but the point is, on a monthly basis you don't see a huge income per property - and you also have to absorb repair expenses and such as well.   

I am a buyer - my buy box is 200k ARV, all in $150k after repairs, rents for $2000 per month.

Penalties of these Federal charges may include:30 years in prisonUp to $1 million in finesIt's a Federal crime.I'm not currently at foreclosure, but am recently out of state starting grad school, no income, and home needs repairs that I simply do not have the money to make.

I doubt it would qualify for a conventional loan with the repairs that need to be completed.

If you can rent 3 units for $2,000 you are close to breakeven.On the plus side, you will have a highly attractive asset and several decades without much cost of capex and repairs. 

Just got off the phone with the zoning guy and he said since both of my lots pre-date the zoning regulations in the city, they're grandfathered in so-to-speak, which means I am able to build a single family on each one!

.- This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.