Rents are $17,700  with tenants paying their own utilities and total costs are $12,030 including the mortgage payment.(10% management $1770, 5% vacancy factor $885, maintenance $885, lawn care  $900, 10 % Cap ex $1770, Payments $5820)This leaves $5670 dollars a year in cash flow for a ridiculous 56.7% cash on cash return! 

. : I'm new to performing notes, but if this is the case, depending on the risk factors of performing notes, this may be a very good investment.

If the only way you can afford a property is when you have rental income, you can't afford it.Without looking at a specific property, they can only tell you how much you can afford without the rental income.The biggest factor is your monthly payment vs your gross income.Lenders look at two ratios: living expenses and then total debts.First ratio - Total living expenses (mortgage, property taxes, home insurance) vs monthly gross income.

What would prevent them from getting you on the hook, and then having a phantom offer arrive in order to drive your current offer up?  

It may come off as sounding silly, but I'd pay someone to drive me around.

If you were to find things wrong in the inspection due to these factors that would cost a lot to repair, the seller may be willing to go down on the price.

Is it possible to create one LLC to purchase real estate as and investor while also using the LLC for a Uber driving business?

That is an X factor that you can't really predict. 

I am in Atlanta and looking to invest in Albany and other counties within 2 hours drive.

We like to offer wide access to our units, to help drive interest and to prevent discrimination claims.We use a scoring system to objectively rate the applications and choose the best fit for us.Some things to consider: https://www.biggerpockets.com/blogs/4445/44420-ten...