Meanwhile my plan is to setup the team and stabilize the property (its already in running condition, I just need to catchup).

If you good enough credit, using a 3% or 5% down payment would be better than an FHA loan.FHA will not lend on homes that need substantial work and has stricter criteria than a conventional loan as to the condition of the property, although conventional will not lend on a total gut/full rehab project either.

I ask because I found a house that's selling for 100k less than tax assessed value (MLS, normal house, great condition) and am wondering if I'm most likely walking into a sweet equity deal, or if there's some more nuance y'all have fun into.

These are my thoughts am I hope to hear from your opinion.On a side note, I tend to over-spend during rehab because I prefer make everything new or in good condition to avoid potential service calls from tenants as much as possible.

Renters left house in awful condition with **** on the floor and sex toys lying around.

A breakeven property this year is earning 5% more next year, then 5% more the year after that, etc...However, before you buy your breakeven property, make sure the following conditions are met:- You must underwrite the property properly, accounting for maintenance and capex and vacancy.

Take printed pictures to document the condition of the property before and after.

It's been a while since I posted anything about the general market conditions in Ogden. 

Is it in good condition currently?

They will charge 8 to 10% based on property condition and the local market.After you remove all the extra expenses from your balance sheet, this deal might be tenable.