Now, if I'm doing my math right, even taking the high-end estimate of the rehab costs and the low-end ARV estimate, you've still got about $105k of potential profit/equity in the deal. 

The rent seems low for a 4bedroom unit. 

Actually I consider $700 a month low rent.

@Seth Deitchman Those are great goals:  Through Tax deed auctions you can certainly attain a profitable portfolio of flips/rentals if your Purchase Price is low enough to account for the rehab usually associated with Tax Deeds (as well as the other factors of course: neighborhood, market, etc). 

But, no matter how low I put the purchase price of the house in this report I still end up upside down with expenses.  

We want to go for another real-estate investment (we are doing buy and hold..buy low, renovate and make them short term rentals on airbnb in Ocean City, Maryland).

I am just purchasing a SFH to start off, the price point is low enough that it won’t break me in a worse case scenario.

When I go to make a deal, I've been out bid (even with my offers, I was stretching because of the low inventory in my area!) 

To me, the NOI and cap rate seem low especially after you take into account a debt payment for the property.

Low interest rate, 30y fixed and 25% down.