I believe that you have a couple of choices.1) If you can get the property under contract at a discounted rate, you could wholesale it to another investor for a fee.2) You could talk with the vendor and see it they are willing to do a seller finance with a smaller down payment, using whatever you have left over to try and repair. or even talk with the vendor and see if they want to partner with you.3) find some one you trust who has what you are missing and partner up.4) pass this by, knowing that you will find another deal, and gear yourself up (fix credit/no money issues) with the goal to fix and flipsome basic ideas. you can search the site for more forums on what you need.Good luck!

If you plan on living there for several years you will PROBABLY see both rent and property appreciation so the numbers will likely look better before you turn it into a straight rental.Going back to your condo, that is a tough analysis too.  25% vacancy sounds high but smoothed over an entire year I guess might be accurate.  

This scenario applies primarily to a straight, traditional "cash" purchase. 

If you can purchase the home at a real big discount vs market price then it might be feasible.  

Let me make sure I got this straight I should or should not call a girl 12 times in a day that I am trying to get a date with?

I also believe that you can just have one of your tenants handle those onsite duties for a small discount on the rents. 

We're looking for an investor-friendly real estate agent to help negotiate discounted and bank own property around Anne Arundel and Howard counties.

My best advice to you is to not discount or ignore the lessons you can learn from the path your father took. 

(the other properties in another neighborhood did not sale is the rational ) Straight to rental.Does this make sense to anyone??? 

He said $175k ($50k discount).