It's a 2 bed 1 bath in the 38126 zip code of Memphis, TN.

I've put in an offer on a house with almost exactly the same numbers.Offered $31.5kReno budgeted for $15 to $18kLooking to list for $105kA similar house sold for $121k and that was with 1 less bed and bath

They are single family homes, 3 Bed/2Bath foreclosures, sale prices ranging from $20-28K and requiring $8-12k in rehab, in neighborhoods with comparable houses currently going for $65-90k.

Lowest cash deal was $45k for a bigger house with an additional bed/bath.

Property is a 2 flat total of 5 beds 2 baths, but has a unfinshed garden apartment below grade. after rehab rental income would be $2200 if garden unit is converted. total debt service is $900. annual rent of $26,400 -debt service $10,800=$15,600.

Property is a 2 flat total of 5 beds 2 baths, but has a unfinshed garden apartment below grade. after rehab rental income would be $2200 if garden unit is converted. total debt service is $900. annual rent of $26,400 -debt service $10,800=$15,600.

As I mentioned before I have under contract a 3 bed 1 bath home.

This could actually include stuffing your cash in a mattress during a deflationary period because the buying power of your hoard increases, however, for most intents and purposes, saving is socking your dough away in an institution, often insured, with a guaranteed return, usually very small, but you can literally bank on it.

My last rehab cost me about 3500, for a 5 bath 2 bed house.

Stick to within 6 months, if possible, and no more than 1 year old unless ABSOLUTELY necessary.Find houses that are the same style, built in relatively the same time period, have similar features (garages, porches, decks, etc), are similar in size, are similar in number of beds/baths, etc.Adding MLS rules won't necessarily help you find better comps...finding comps is as much an art as a science, and it requires more digging (looking at pictures, figuring out external circumstances, reviewing DOM and price drops, etc) than just plugging in an MLS search.