My mission as stated above is to build a client base of steady customers who call on me again and again for all their small to medium sized repairs and improvements. 

LOL.. judge just signed my order.. house is 100% covered in vines and blackberries and there is just a tiny path to the front door.. she opens the cat food cans and just chucks them on the little space on the porch.. since she would not answer us I had the cops do a wellness check and they did get her to the door.. you have to hold your breath when you get within 10 feet it.Also I am told the brother took a car apart and put it back together in the basement so supposedly there is a full size car we will have to deal with.. but this is a demo and rebuild new construction...

At the end of the day I bet your tenants get evicted and your place gets trashed.

He taught me how to buy "no money down," he didn't teach me how to fund it.I went to this particular lender pitching a 12 unit apt building, and he looked at me intently, sizing me up and down.  

Your best bet is to figure out how to pay those taxes.

If the deal is for $140k all cash (and you get $40k right back), you're probably OK. but any half-wit loan officer the tenant uses will see right through what you did, which is to artificially bump up the market history of the property to influence the appraisal and mortgage size the tenant is applying for.

 Steven, it has a low ROI because you have full equity in it, i wouldn't sell it. the property cash flows more than an average SFH ( average is about $400, some even get less or more). the ROI will change once you pull the money from it with a HELOC or loan. lets say you pull out 75,000 @ 4% HELOC ( usually they are based on 20 years ) your payments will be about $450 / month, you would still cash flow $200, the property is still yours, you now only have 35,000 equity in the house, your ROI will change based on the drop in equity you have in the house, and maybe the house will still appreciate ( which i never bet on) but know you can buy more property that will cash flow. from what i am guessing there are probably houses that go for 75,000 where you are buying, down payment would be 15,000, you could buy 5 houses with that 75,000 of equity you pulled out. just something to think about.

Probably not even financeable if its Home Path, property is in beat up shape I bet. $3500 is a new bathroom if your paying in cash.

Im trying to learn as much about all the various aspects of investment, as we live in a one size does not fit all world now, adaptability and creativity are key to me, in understanding what are the best ways to handle a real estate investment opportunity.Im here to learn and network with other investors so I can take advantage of the wealth of knowledge and turn it into a sustainable business. 

If you want to utilize the 70% Rule, your best bet is to locate Off Market Properties using a Wholesaler.