Marketable rent is $1200 it is near a college, 3 bed 2 bath 1200 sq feet up and full unfinished basement 1200 sq feet downstairs.

If interested here are the numbers on my deal: 2 bed 1 bath newly renovated condo on the water, purchased for $20k (15k financed at 4% int.)

1 bed one bath goes for 1,3002 bed room 2 bath goes for 2,300In same building 

I've approached the owner of a rental property in a B+ neighborhood asking for terms to purchase their home.It's a 3 bed / 2 bath "move-in ready pretty house" that they've rented out for about 10 years.Owner is asking $205K (I confirmed with a realtor that this is fair market value).Rent is $1495/moI offered to pay their asking price if they held the mortgage for a period of time.They came back with, "Sure, we'd definitely consider it.

Nice neighborhood with mostly cosmetic repairs needed, 3 bed -2 bath is what I have 2 been looking for but not really seeing anything to jump on.  

When I have my millions under the bed I might invest in areas like Detroit but for now I must pass....

Also adding an egress window so that we will have a 4 bed house.

6,617 Sq Ft.10 Beds / 5 Baths1.07 Acres.Was previously used as a school, but can be residential or commercialBank owned.  

2340 sft, 3 bed, 2.5 bath. 35% hardwood floor, rest carpet and vinyl in bathrooms.

The property we are interested in is about 2 hours from our house and my husband does have a background in construction.The property is listed at $234,000, I would hope to get is for $200-210k due to it being on the market for quite a while, it is in good shape with a newer roof, windows, furnaces etcBased on the home being 210k:Typical rents for area, property was prior owner occupied entire building so is vacant 1 3 bedroom 1 bath unit $1300 1 2 bed 2 bath unit $1100 total=$2400We would plan to put 20% down, our mortgage at 3.75% would be=$778A quote I got for homeowners insurance was = $134/monthVacancy = 10% = $240Property tax = $383Water/Sewer = $40Maintenance = 10% $240Management = 10 % $240 (Ourselves, but will hire people until we move to NH to owner occupy)expenses= $2015Monthly cash flow = $385annual gross income = $28,800 annual expenses = $24,180 annual cash flow $3,820cash on cash return $3820/$42000 = 9.09%ROI $3820/$210,000 = 1.8%I'm not sure if this will be a worthwhile investment, the main reason I am interested is that it is in a good area, the north end of Manchester.