Contractors whom are not Trustworthy will not stay in business long look at how long they've been in business.

It will be 3 or 4 updated shipping container apartments.

  $8,000 left.If you decide to update the electrical, plumbing, kitchen or baths, you're in the red.This deal makes sense for a handyman / contractor who wants to owner-occupy and wants a deal where he can do most of the work himself. 

I imagine a lot of the foreclosed investors could have stayed afloat...kept their properties...using retirement savings but chose not to throw good money after bad.

I will keep everyone updated as this progress. 

With either optIon or all of the above a rental increase from $475 to $625 would definitely be in order based on current rentals in town with no updates.

I looked out of state and am deciding to stay in state. 

Do I need to give them incentive to let the loan stay unpaid till the end and let it generate interest for me?

However, there are so many Guru books that harp on the Small Monthly Cash Flow I think the general population stays away from the Golden Opportunities which are the high Appreciating Investment Properties.

No one can predict the future, but if you'd like I can send you a market update of how Neptune real estate is performing YTD compared to other nearby towns.If you do decide to pursue Neptune, my office just listed 3 properties there (one single family, 2 multi family) all at 60-65% of assessed value and for $175,000 and less.