And then after a year to 3  the house is a wreck by the time U get it.. then if the people are still living there then you have to go through the eviction process which again if they wont take cash for keys could add another 6 to 12 months to the whole process.. 

It is always a frustrating experience reading a thread like this because you simply aren't asking the important questions and making several key assumptions.1.

The key to success on these deals it o accurately estimate your rehab budget and the time it will take to get the rehab done.

Location is key, but if you can fill a the lack of lodging in the area you could make it successful.REgards,Bogdan

Do some searches here in the forums, maybe set up some key word alerts for it to see when/what others are talking about regarding it.   

The key is that when you join the group you MUST take action and get involved.

@William Walker the key take away is that this is not a single family home.

If it's turn key and you're looking for long term financing you will be looking at 75%-80% of purchase no matter who the lender is. 

The ingredients are just a little different.

I have a 2 unit, brand new construction condo building for sale in Ivy City, Washington, DC. Each unit is 3 bed, 3 bath.  Top unit has rooftop deck, bottom unit has backyard.  Buy both for $1.1M.