SO.. all these poor bastards eager to flip see this... and go..

Excerpt: Throughout the country, tens of thousands of rundown homes have been scooped up by investment companies that have offered high-interest financing or rent-to-own deals largely to poor people.

Deducting rent for repairs needs the local Board of Health to certify the problem, the landlord must receive in writing the violations and landlord is given five days from date of notice to begin repairs or contact a company to perform repairs and there is a cap to how much rent can be deducted.

Many are run poorly, many run well.

All condos have condo fees and those fees vary widely between associations. they can completely wipe out your cashflow, but you can include them in your analysis and potentially find some that are profitable in a city area. finally, you need to vet the association, which is difficult to do since they arent a public entity and don't publish their financial health. old buildings with expensive deferred repairs can cause assessments to skyrocket and owners will be on the hook for the cost.

Her unit is also in poor condition and will need a rehab before renting again.

Recapped topics from Rich Dad Poor Dad3.

People lose clients due to poor communication.

You don't want your hard earned investment producing poorly, and too many times this happens by choosing a poor property manager, who doesn't have your best interests in mind.

@Dennis Cuocci  very true... there is cheap money but not the combination of limited experience and capital and poor credit.. those 3 simply do not go together..