While the gross income is $3k a month, you still have taxes, insurance, utilities, etc.

I will get $10,000 on the front end, $300 (minus insurance) monthly, and $40k on the back end. 

I am paying $55K, value ~$75-80K, insured replacement value $100K. 

Hey everyone. So I’ve been having trouble trying to find the owner of the property when I drive for dollars. I have the app LandGlide and it takes me to the county website property search and where it supposed to say ...

Your customer is different, are you aiming at future homeowners or other investors?

Zestimate is $315K.Cash flow won't be great for me since I will be taking an expensive loan at 7%.Expenses would be: mortgage+taxes+home insurance= $1300Management fee of $100 will be waived for the first year.There are renters in the place with a contract till June 2019 and they pay $1635.What I'm considering is that:Get the place, have little to no cash flow and when the renters contract ends in June 2019 have them out and renovate the place and:1. rent it out for more or2. if the market is higher/ home value is higher after renovation, sell for a profit.What do you think?

It's important to be truthful and not prey on a distressed homeowner if they are ignorant. 

Unfortunately we have our own expenses such as bank payments, taxes, insurance and maintenance that require us to rent the apartment at the set price.

You can buy a home to live in using FHA loan, low downpayment with mortgage insurance.

  ( For example Prop Mgmt or providing insurance).