It was a pretty beat up property in a tough neighborhood in the depths of the downturn.

If you want to know for sure, shop around with other lenders, that will give you the best idea of what is realistic.

“Statistically, more people die in their homes from a fire than anywhere else – shopping centers, McDonald’s.

Started shopping other brokers and while comparing i foud out that my current Insurance broker put both houses under Commercial Generl Liability and not Residential. 

With that said I am opening up more to the idea of single family homes In cleaner neighborhoods, but still being new to the area, unsure where exactly those places are. 

Branford is also an awesome town with lots of great shopping and things to do, as well as great location.

So, If I were you, I would shop your note around to get the best offer on it.

I can understand the desire to have a great cash flow and high ROI with no $$ in the deal, but I don't see the point in running your numbers based on that goal, and making a decision based on those number.....especially if your real plan is to put 20-25% down anyway......If you can find a place that cash flows well with zero down.....and isn't a BRRR deal, then that's pretty awesome6.5% ROI isn't "bad" .....its just not great.....there are other OOS places that have the potential to do better....but some of them come with a higher risk (lower class neighborhoods etc).

If you want a better neighborhood to invest in then go further east to Bosart Brown and north to Emerson Hts, (as mentioned in previous post above) Englewood-This area is located south of Michigan to south of Washington to the railroad tracks and Rural east to Lasalle.

Check out the neighborhood before you buy.