I think you should be able to find a deal where your rental income can cover your mortgage payments as well as utilities easily.

The 2 bd unit which is renting for $1.4k could easily be rented for $2.6k (I lived in a 2 bd 1 ba unit down the street last year and paid $2.4k, when I left he rented it for $2.6k.

I would feel so backwards and  inefficient if I was doing anything more than changing an air filter, which I do not do.  

Offered me this deal:House is located in nicer KCMO suburbs and easily comps at 112-120kHouse in need of about 23k in updates/remodel (they would perform)Has current renter that has been there 15-17 years but would probably need to leave for rehab (lease is up early 2017)Offering me value purchase price of 83500 (over 10k less than comps minus repair cost)I would get portfolio loan with my local bank there (already approved) at 30% down ($25050)Would open a HELOC to perform the rehab (max $23k)Once complete, get a cash-out refi (with same bank), at 80% LTV of (hopefully) new value of 118k which would cash me out 24k -- enough to pay off the HELOCWould put back on the market at 120k, and if sold would net 25k+ on the deal, otherwise could continue with prior renter or find new renter (pretty easy in this area)Obviously quite a few things would have to go right including the reappraisal, but the comps look pretty easy to obtain that new value.  

With a little work I can easily increase rents to market value.My main concern: Property is on septic. 

A high percentage fail and thus are easily seen as a scam.My LO was structured in two documents to avoid the issue AND both the lease and the option were NOT ASSIGNABLE. 

If you are spending marketing dollars you need to make sure you are targeting the right audience "motivated sellers" and you do this by filtering the list you pull.

Does anyone have any positive experience in dealing with a website like this or would you suggest me finding actual owners that I can easily get in touch with.  

Good Luck - Sam "Comb through," means using sorting and filter functions is MS Excel.

You should know that the lower your credit score the higher the interest rates you will have to pay and that could easily add up to thousands of dollars over the years.