(We currently live 10 minutes from the propery and are renting at an extremely low amount from my mother who owns the house we're in...I'd also like to by this house in the future.)

Is this a niche market with low enough landlording expenses that this works for most people or is the market just over valued like you guys were all saying?

After all we are taught to buy low and sell high...Despite all that, I just bought a facility for .50 cents on the dollar ($19 per square foot) and have doubled its value in under 105 days...from $465,000 to $1,000,000.....in under 4 months...in a "seller's market"....The point here is that every facility will have its own "market" and savvy investors can make money throughout the market's cycle.

@Jason Lawrence Actally, I think your numbers are all low.

Are banks lending on home prices this low in not so nice neighborhoods?

Wholesaling is mostly like any other market with a low barrier to entry: it's filled with people who have no skin in the game. is it possible?

What matters most is the money saved on housing expense, the low downpayment and great mortgage rate for an MF due to owner occupancy advantage, and learning to property manage.

You have no management expense and the property tax seems a bit low at around $1,500 per year but I don't know where it is so it could be normal. 

There are supposedly low cost loans and grants for home improvements.

Low their rents slightly to fix small issues.