If you are not a STEM major or you have a lower income earning potential, then you have to be even more careful as you do not have a lot of room for error. 

That is a good point about adding buffer in the rehab quote and time frame.I will be sure to add an extension request clause.Are you suggesting I ask them if I can lower the earnest money?

She is willing to sell it for what she owes.Numbers on the deal-95k 1st mortgage @3.875% ($890/mo) - her insurance is $2440/yr ($203/mo)- I was quoted at $650/yr ($54/mo)- her escrow shortage was $896, but if paid in full, her 1st mtg payment is $815/mo-10k 2nd mortgage @14.9% ($217/mo)-35-45k estimated repairs (I would do some work myself to get the cost down lower than 35k)-ARV is around 160-165k-Rent market ~ $1200/moMy thoughtsIf I paid off the 2nd mortgage (10k) and got a better insurance, the new mortgage would be around $613/mo.

If you're OK with a lower price for the condition, then you may want to save your cash. 

Some landlords offer a lower rental rate to one tenant if they agree to do the lawn care and snow removal alone, just make sure to put it in writing if you go that direction. 

Obviously it needs work and has back taxes, it's in a historic building, and from what I can see perhaps reserved for lower income rents.

I have circled the house in red.Personally, from the numbers so far I don't think there is much profit to be made from this house since most of the comps are much lower.

Start by saving, you technically can invest with no money but it will often be riskier and lower quality properties, it is usually better to just save, especially if you want to purchase rental properties as Rich Dad, Poor Dad implies is the right strategy.

Hey fellow pocketers, so I’m officially pre-approved by two lenders which I will most likely go with USAA since not only is the rate cheaper but it lowers my car insurance but that’s another story.

Their “ROI” figures are low at 5-7% even for the lesser cities, and on closer inspection these ROI numbers do not represent a reasonable cap rate, which would be even lower.