If going with conventional financing, a lot of banks still cap it at 4, too.

I know it may seem crazy, but I'm just wondering if the wallpaper doesn't come down easily (which I bet it won't because it appears to have been there a while) how difficult it will be to fix the walls.

I will keep it in mind.Jacob, I am also finding it difficult to purchase property as the rental prices do not justify the asking prices.

Just keep in mind that finding money for a good deal is not difficult and your costs of financing are heavily outweighed by the opportunity costs lost by not doing it faster and investing in more.

In that price range, I would probably put gas in if it wouldn't be too difficult/expensive to do so.

Unless you have some fairly ignorant buyers, it's difficult to wholesale off the MLS, as everyone else is already looking at them, and most will have resale time restrictions.

financing is also difficult for foreigners. i have 2 rental units in Atlanta and a multi in phoenix with partners.

Btw, a purchase and sale agreement (not a lease option) that provides for delivery of a deed in less than six months is not classified as an executor contract under existing Texas law or the new law.2) Rent credits should be not used after Jan 10 2014 due to Dodd Frank.3) Buyer gets the deed when title conveys and existing financing is paid off (loan is approved.4) Some states like NC make it difficult to evict, and they need to have some kind of foreclosure.

Are you willing to share the details (purchase price, cap rate, CoC, cashflow, etc)?

The first one we bid on we were screwed a bit by the listing agent who sold it to another investor in the area for a lesser price than what we bid (dont think the sellers were ever shown our bid), we later saw it on the market fixed and flipped.During this time my mother was facing a difficult time paying for her home so she was going to let it forclose so we were going to purchase a home for her.