I don't presume to understand all of the mechanics behind a crash like that, its just hard to believe that weathering a crash would be that easy.  

I'm more concerned with the mechanics and what makes a deal a -good- sub2 deal.

My father dropped out of school at 14 years old and worked as an autobody mechanic for his entire career.

You'll want or have access to a good marine mechanic.

All this together will let me know if a deeper look is warranted.The danger occurs when you mechanically start applying the "y% rule" without a solid understanding of the underlaying fundamentals.

Hi all, Starting with a little background on myself, 24 year old male recently graduated from Minnesota state university, Mankato with a BS in mechanical engineering graduated in May of 2017, currently living with my parents rent free in the twin cities area employed at a large corporation with a base salary of $28 an hour (which will be increasing to about 30 in 6 months) + overtime which ends up being about 50k per year after taxes which I am calming 0.

@Ben Smith,I understand your thinking on your target recipients, but the truth is people in trouble tend to go into denial as a coping mechanism.

I'm not familiar with the area but 30k rehab seems high unless you are doing some of the major mechanicals. 

There are mechanisms in place to challenge a banks appraisal.Everyone above is right.

Are the mechanicals (furnace/boiler/water heart/appliances/etc) of the property sound or are you going to be making an investment in these in the near future?