If they let you come visit their current residence right away they probably do not have much to hide and could be an ideal tenant.Hope this helps!

Ideally though you should be trying to get like 1.5% or 2% that way you know you're into profit not break even cash flow. but don't go with "rules of thumb".

The guy in the middle happened to be the roofer I deal with regularly anyway.

You can use CPV and contextual media buys to place your offer right in front of the ideal prospect moments before they click on a competitor's offer.

I agree with Don too that you could easily to over budget. 20k is more ideal but I am not too sure about your market.

Which is awesome of course, unless the ARV is too low to support both the purchase and a good chunk (ideally all) of the rehab.

What I would ideally like to do, is buy them, do the normal rehab I do, get a good tenant in there, and be able to market these properties to other investors who don't want to or are not good at these types of things.

Ideally, there would be one "local" party {David?}

I'm intruiged with the positive cash flow idea and working a full time job would be ideal for me to rent it out and purchase another.

@bryce Davis, if ever i could find someone like you. building wealth is the same as having a nice body/working out at the gym. it takes hard work and discipline (hard work->at the gym and discipline--> what you eat). for me, there is no real risk when one is trying to attain an amazing body, losing money is risky. having someone who's already successful to show me the ropes, that would be ideal.