If you are in a high demand metro area, it's simply not realistic to expect to be cash flow positive if you are putting down 0-10%.

I simply don’t trust their taste. 

They simply choose to say that any amount you purchase less than you sell or any amount of cash you take out is profit first. 

If you aspire to become an investor, as opposed to simply buying yourself a job, then you need to look at assets that generate enough income to hire staff. 

They busted in the front door and knocked a few holes in the walls, but the place was in ok shape and I spent about $12k to fix it up and put it on the market. 

If you want to know your max purchase price formula it's: ARV x .7 - Cost of Rehab = Max OfferBut the overly dramatic example I gave (sorry... but it can turn real quickly) is why you have to know that cost of rehab with some degree of certainty, or else simply asking what percentage of 65k would make it a great deal is irrelevant. 

Other pockets  just south you want to avoid as well.  40 miles west, whoever you are speaking with simply has no idea what they are talking about unless they want 6- 8% net caps,but why bother with that Good Luck  

Simply go to my profile by clicking on my name in this post and send a request to connect, or do so direct from this thread post. 

Compared to our other portfolios I prefer Cleveland based on the yield, ability to operate, great selection across classes (A-F), changing national reputation, price points, and the fact that I simply like going there (I live in Boston). 

The first house will be rent ready, just without a tenant in it and I'm afraid that if I buy another house I will get turned down simply because of the debt to income.