That is a pretty large discount to ARV.

If you use him please drop my name, I'm not getting paid but maybe he'll give me a discount on my next inspection. 

Charles,In addition to what Steve and Michael said, here are some typical exit strategies for buy-and-hold investors:1) Buy at a discount, do a cash-out refi, get your equity/investment back.

If I had renters in hand for next yr (even is I have to discount) would make me a lot more comfortable.

And those are the types of houses that are extremely difficult to get the discounts most investors need to make the numbers work.So, for me, I think those are the issues I'm seeing with your proposed model and possibly why you're seeing the cash flow numbers not looking so good. 1) You're looking for stuff too new and too nice that you won't be able to get the discounts most investors need.2) Without the discounts, it makes it really tough to cash flow right.What I would say is you either need to adjust your model or get creative in finding the discounts.

For example:- High paying tenant about to leave and no replacement is likely- Major structural issuesThe seller is obviously pricing in a major discount for some reason.

Hi, Don - I'm an investor specializing in putting discounted deals in front of buy-and-hold investors like you - I'm not an agent, but I'll be glad to work with YOUR agent or direct with you.

But not everyone would be that good at it, or want to do it, so not sure it's fair to completely discount (ha, pun) the idea of a PM.

I have used "rent a center" as well as picked up discount furniture and home good knick knacks from discount stores like marshals wall-mart etc. and can stage a home for the fraction of the price.

And the last buyer an agent wants to work with is someone who just wants to bomb listings with low-ball, not-a-chance-in-h*ll offers.If you want to buy distressed properties from motivated sellers at steep discounts which allow for a profit to be made, you pretty much have to go off market.