Then you would get the most benefit from the bleed over from any improvements you make.Also make sure you are pushing rents up not down.

The best way to ensure success is to be able to have a tenant buyer use a credit improvement service that puts new positive marks on their credit.Regarding double closing on sandwiches, a truly unique way of avoiding two closings is to use a reverse assignment, where you as the investor places a 2nd mortgage in second position and reverse  assigns back to the seller, which avoids the need for transactional funding and two closings

@David HodgeUnderwriting to (M)IRR should give you a better understanding of the business, but even then you still need confidence in your inputs and any assumptions: "garbage in, means garbage out".

In a small town full of dilapidated homes, my family is trying to buy property and improve the town, one house at a time.

I say this not to build me up but in hopes of showing someone who may not have the confidence to do a project themselves it CAN be done.This isn't the first one I have done I did another about a year ago not to the extent of this one. 

When the time is right to jump in, you will have the confidence to do so and the analysis will show it to be the wisest thing to do. 

We are working on our first deal, and are confident we found a great property. 

BUT REMEMBER you have to have confidence in these people SO you can't just random pick.

I'm going to visit my first multiplex this Sunday and with the help of BP members i have build confidence!

Add in the hard money and you're looking at approximately $9,000 more; plus a safer rehab budget of $30,000 and you're number goes down to $196,000.So if you're confident in your ARV and ability to stay under $30,000 for the rehab, you're likely safe to offer $170,000-$180,000 (i.e. what @Bill Jacobsen said #nailedit).