Let me give you an example of a south suburb property with a county voucher using all cash to not complicate the ROI's using leverage.South Holland, IL Ranch SFR 4 bed 2 bath 2 car garage 1,800 SQFTPurchase Price From Stabilization Trust: $55,000 (distressed)Rehab Costs: $45,000 (result is over improved rental highly sought after in this market)Overhead: $10,000 (i have $1.5MM in overhead for salaried employees / business operating expenses so i charge $10k to each house i buy)____________________________________________Total Cost: $110,000County Voucher: $1,900 per month (HUD's zip code pricing matrix pays $2125 gross for 4 bed voucher tenant minus utilities $150 per month (tenant pays) minus tenant qualification variations is around $1,900 per month voucher$1,900 x 12 = $22,800 gross income-$1,824 Property Management Fee (8%)-$900 Sewer / Trash / Misc (tenant pays water, electric, gas, landscaping)-$4,500 Property Taxes-$1,000 Property Insurance-$1,140 (5%) Vacancy-$1,358 (6%) Maintenance__________________________________________-$10,732 Total Expenses$22,800 Gross - $10,732 Operating Expenses = $12,068 Positive Cash Flow$12,068 divided by $110,000 cost = 10.90% CAP RateMy positive cash flow each month is $1,000 after 11% reserves (now remember i have HUD guaranteed income and most of my tenants stay 3+ years and the house is freshly rehabbed so my CAP rate for the first three years is really $12,068 + $1,832 as i don't spend my reserves on vacancy and maintenance which equals $13,900 NOI divided by $110,000 = 12.63% CAP rate.

J, Hmm...Going to bed whenever you feel like and waking up whenever you want, I loooove the sound of that. 

Getting owner names, mailing addresses, beds, baths, etc from the county assessor varies a lot by county, and often involves a fee.

Who's on your team (Finance, Broker, Accountant, Attorney, Inspector, Contractor,etc.)Investment type you will target (residential 1-4, multi 5+, commercial) Investment strategy you will focus on (wholesale, flip, hold, BRRRR, turnkey, etc.)Purchase criteria to use for all purchases (Cap Rate, ROI, COC, ARV, LTV, sqft, beds, baths, amenities, etc.) 

We are looking at starting small and building around a 1400 sq/ft, 4 bed/2 bath house.

It was a triplex, with three beds per room for about $200,000 (and it needed a good bit of work.

I bed on a fiveplex over on Meekland a while back. 

I currently have 2 very nice 3 bed 1300 sq ft houses that I paid full retail mortgage for of $110,000 each 5 years ago.

We are looking at starting small and building around a 1400 sq/ft, 4 bed/2 bath house.

It is a 3 bed/1.5 bath in need of repair with a motivated seller relocating and under water by about 50K.