The current labor market has made any decent vendors the most important asset an investor has. 

From someone on the labor side of things, that's what your situation looks like to me.

Purchase price: $77,500 BRRRR I just closed on my cash out refinance for this property and it was a perfect BRRRR with NO REHAB...and, it was sitting on the MLS for 78 days.22061 Shakespeare Eastpointe MIFelt this was a good experience to share.Paid $77,500kRehab: $0 (already had a paying tenant and house was "good enough")Appraisal Value: $102k (75% cashed out = $76,500)"Wait, joe you left $1k plus closing costs in the deal""Na, it cash flowed $700+ a month after expenses for 6 months, I got all my money back"1st Best Part...no rehab2nd Best part...this thing sat on the MLS for 78 days***Note:I didn't go into this deal "NEEDING it to be a perfect BRRRR".

@Joe VilleneuveThank you for the reply1- Yes I will be renting the upper unit for $1200.

@Mark Marinaccio Check out this video that joe mccall made http://screencast.com/t/1ZWh9sGr4T

I generally buy low-end for almost nothing.I like @Joe Villeneuve ending to his emails.

Very good advice from @Joe Villeneuve You offered what makes sense for you. 

Hey @Joe Cummings No, I am not related to those Biddles.

Hi@Joe Hughes and welcome to BP!

Originally posted by @Joe Villeneuve:Cash on cash return means exactly what the words mean...within the first year.