If we could move it to 950 in a year, even with 90% tenancy, numbers remain roughly even. 

The examples put forward were fixing up distressed properties in rough neighborhoods and renting to section 8 tenants.

While we have managed some decent homes in Beech Grove, the tenant demographic can be a little rough and many of the homes on the northern end are 80+ years old.

@Dana PetersBeing all in at roughly 140k and rents of 850/unit, I would say you found a pretty good deal on paper.  

Someone tried flipping and ran out of money.The price on the foreclosed property is $239k, I believe the comps are showing roughly $290-300k with the interior put together.

Jerry,Wow, rough rough day. 

Over the same long weekend, your brother, (who believes that the answer to all of life’s questions will drop out of the bottom of a spreadsheet), buys a property roughly the same size, built in 1971.

I have an understanding of real estate in general as I have been appraising for roughly four years.

Asking $74,900.Its on a rough looking street with dilapidated mobile homes and other old houses. 

I did a rough estimate and I believe the cash flow will be somewhere in the ball park of $115, using the 50% rule.