Oh and getting funding for loans under 50k is a pain.... and no one but investors are going to want this property so your exit plan is limited.But hey they look great on paper... 30k house, rents for 7-800 mo.

One issue appears to be weeping concrete blocks in the foundation, the other is water flowing through cracks in the blocks in a crawl space at the front of the house.

Please punch as many holes, and identify any unforseen issues or road blocks I can expect with this approach.Thanks 

@Renzo Tunjar a 'good' location doesn't have black and white rules, like it doesn't 'must' be in the city, 'must' be on a certain kind of block, but before getting into a deal it is important to understand how the location would affect the rental prices, the vacancy rates, etc.

The insurance process was a pain, but having all of these pictures as well as good records definitely made it easier.

This is CBS, concrete block/stucco, quite popular.

Total pain in the ***.

It’s a pain to pick up checks or cash, and Who wants to go to a P.O. box every few days.

Sounds eerily familiar to a call I got last year wanting me to buy a package of the 2 apartments, 2 houses in Centerpoint, one or 2 in Pleasant Grove, & one in North Eastlake, & one on Pratt Highway.Minnesota is where the middle man (Luxor Funding) is located.I believe all 3 apartment building on that block was originally owned by older folks but they had sold them before I even touched them. 

They knew what they were doing when they broke in, and they know who owns what on that block.