They should be able to demonstrate the ability to troubleshoot, solve problems themselves, call a cheaper handyman, before calling in expensive experts.

I need advice on funding the deal.I currently have limited funds (due to the Dave Ramsey pay off debt snowball), so it's making closing this deal a little more difficult.Here is the dealTri-Plex – 11.8% CAP Rate – 20.56% COC ROIPurchase Price $105,000 ($2,000 non refundable deposit to secure this property)Current Gross Rents = $1925/monthExpenses = $8328 (Taxes, Insurance, Utilities, Maintenance) Value Add in expenses by charging monthly fee to tenants for Water and Gas current owner pays and is in above expense.Washer/Dryer in units.Top Floor 1 Bed 1 Bath - $650/month - $40 Late fee starting on the 5th of the monthMiddle Floor 2 Bed 1 Bath - $725/month - $40 Late fee starting on the 5th of the monthBasement Unit - 1 Bed 1 Bath - $550/month - $40 Late fee starting on the 5th of the monthRent = $23,1005% Vacancy = (1200)Expense = (8,328)NOI = $13,572Cap Rate = 11.08%CoC = 20.56% after debt service of 75% LTVReturns calculated with $15,000 in renovation expenses once tenants vacate.

California investors buying inexpensive midwest properties that look great on paper but the reality is often a nightmare of repairs and non paying tenants...

With so many inexpensive homes there and the median income being so low it's a tough market. 

They are in most inexpensive markets.

At 1700 rent, there is no way you are paying 850 a month, or 10,200 a year in expenses.

House hacking works in most markets but especially well in expensive markets like California and Miami

I understand the vacancy but which others do you include in expenses and capital?

You can get a yellow postcard for less than $0.40 so you don't need much money to get a few hundred of those out (keeping in mind you will need a list as well).You can get some inexpensive business card and just hand them out to anybody and everybody you see and let them know you are buying houses.Really this is the tip of the iceberg depending on how much time and creativity you have!

If you have inexpensive properties there (Up to $25,000), please, e-mail me the list.Zip codes to EXCLUDE:35221, 35224, 35211, 35218, 35212, 35207, 35217. and 35205 if it's west to Hwy 65.