And here I am trying to get better pictures and not to give away too many details but trying to have them clear out the pink and purple walls in the kids room!!

So I am still learning how to word everything correctly. so please bare with me.Lets say a person makes 15,000 a year before taxes and wanted to get a property to fix and rent out. in southern California. lets say the person used a hard money lender to obtain the property, and sources for the rehab and closing cost + extras in case anything pop up that needed to get done.now that the rehab is done and the house is ready to be appraised, rented out with a management company and refinanced. would there be a way to refinance the house with that low of an income ? 

I figure 10% to be conservative.Management is usually around 10%.Why are you estimating $70k ARV, but a purchase price of $45k and barely any repairs needed?

Then again he might already be renting them at $900 for all I know or even doing it as a section-8.So, my back-of-the-napkin approach says it's probably worth $300k to $350k at $3250 rents but since I've barely even scratched the surface on multifamily valuations and not even sure on the rents I'm terrified I'm wrong.My cap at auction would probably be $250k. 

These areas were so small I could barely see them (if at all) and it seemed over the top to have to hire a contractor to scrape these areas without even knowing whether or not there was any lead paint present.

So you don't want to buy anything that loses money but wait 2 years and something that barely cash flows is suddenly doing alright.

I know I don't have to hit it out of the ball park for my first deal, but I don't want to be barely making a return while having to do all the work.

I had barely enough for a 15% down and closing costs but not a dime more lol.

@James Letchford I agree with Account Closed there's no benefit to you offering a rent to own to someone who can barely afford your normal rental rates.Rent to own is perfect for someone who:1.

Add to this the uniquely corrupt bureaucratic environment of Baltimore City, Maryland (where I grew up)--and its creaky, barely functioning housing-voucher machinery.