@Chris Mason does that mean the 203k loan would have the rehab included in the amount?

You just need to get the tenants to agree to it in the lease and you simply bill the tenants back by means described in the lease...done!

I'm not being mean here, this is just the reality of what people will be asking you.

Meaning they sign the deed over to you and make the remaining payments.

I chose to spend time, meaning I held open houses every weekend in my first year, sometimes 2 per day, grew my SOI and stayed in touch regularly with MLS feeds, emails with useful information, video texts, etc., and I was new to the city so had no pre-existing SOI.  

And just because they paid rent for 6 months doesn't mean they are great tenants.

You mean where am I investing, or where is the Multi-family REIA meeting? 

They'll just tell you what a homebuyer would pay...which as an investor doesn't mean anything to you. 

The previous owner could've made an insurance claim for some major problem with the property and you'd never even know about it until it's too late.Don't mean to scare you, but buyer beware.

How much money/return you could get, but they never talk about visually analyzing the deal.What I mean by this is looking at the property, and the area around it, and letting that factor into your overall analysis.