For this neighborhood, the rent is near the top.

i can appreciate both of your comments..i have about 20yrs experience.i have been doing construction in one form or another since i was 15 yrs old.i have worked in custom cabinet shops,for remoldelers ect.i have been in business for myslef for the last 6yrs.i do almost everyhing.i have always wanted to get into realestate but never had the cash.i always had to support someone along the line.i figure this would be a good way to get into it.i understand your concerns.if there is anything else anyone would like to know just ask.mike

House happens to be only a couple of blocks from my house & I know a couple of houses in the neighborhood sold recently for 120-130,000 & they were smaller.Does the FHA non-insurable mean that it does not pass code for FHA to approve a mortgage?

Pawn shops take possession while others hold a document (auto loans) but not the asset.You need a good repo man if you do not hold the asset.John Corey

Back in Canada, we set up shop and now...we're selling Dubai real estate.

What's going on in the neighborhood?

.#1 Tax Sales are SAFE, #2 (ROI) Returns are GUARANTEED, and #3 All Tax Sales are GOVERNMENT MANDATEDSuggestion: Attend a Few Sales at the Courthouse in your neighborhood.

Check out the neighborhood; understand the comps; determine any repairs needed; look at the leases; etc, etc, etc.However, assuming all that is satisfactory, the key point with rentals is to make money.Here is how I see your potential deal:Gross Rents: $3,890Operating Expenses: $1,945NOI: $1,945Mortgage: ($99,900, 30 yr, 8%) $733Cash Flow: $1,212 or $151/unit/monthThis is an EXCELLENT deal from a numbers standpoint.

I set up automatic e-mail notifications for those of my clients who prefer to watch the market in their particular type of property, price range, and/or neighborhood and let me know if they see something interesting.

If it is one or two stories, you can have one made by a welding shop.