If a diamond falls into your lap and guarantees a healthy cash flow and you need it fast, sometimes stated is the way to go. 

Healthy Cash Flow In no particular order as long they fall within the scope.

.- Peoria has a healthy employment base but is heavily reliant on Caterpillar and two large hospitals.- Rents seem to be increasing. 

In my history working with family is awesome, if done correctly.This is a business interaction, make sure everyone comes out with a smile and money in their pocket and do the presentation like its another investor/hard money lender on the other side of the table.

You will find some great people with great skills and cut out the overhead and healthy profit margin of the big retail operations.Word of advice, rehab the systems first (hvac, electrical, water, sewer) then the drywall, then paint, then cabinets and counters, then flooring, then worry about the appliances last.

And yes you can just adjust the 70% rule and make it the 65%, or the 60%, or some other number rule and simplify it like Arv 60% of Arv,less repairs and profit, but I want my foundation or purchase price to be in good shape in relation to my exit, the sold sign at the end of the deal should bring smiles and not a oh oh I paid to much moment.

So, if you find houses where the rents give you a very healthy cashflow before you're even thinking of being underwater, you will be fine.

This is healthy.  

She smiled and handed back 32 cents (she put the other 13cents back for taxes) and said, "I'd like to invest in Elite REI," my company, "put this towards your next deal."

We finished the house, sold it made a healthy profit and moved on to a better paying job in a more affordable part of the country that we both enjoy much more.