I NEED SOME HORROR STORIES...I'm talking blood, guts, and maybe even.. idk, something worse than blood & guts..  

If i get around 1000 net cash flow, this will pay off in about a year (from my initial down payment). 

Lengthy periods of inactivity while amassing more money from cash flows to make more repairs might interrupt possession.

I'm an agent so I can sell it with just a 2.5% co-op fee to the buyer's agent.Check this out:Obviously I hope to clear more than  $5,200 but these number are conservative and worst case scenario I can rent this place for a nice cash flow if the numbers look bad when I'm done the rehab. 

Setting aside 500 for property management and repair fees I came up with a offer of 135000 that will let me cash flow 400.

Years ago my wife and I met, and I discovered she wanted to own buy and hold homes the same way I did to generate cash flow.

Does anyone know a bank or lending institution that would lend based on a properties income as opposed to personal income?

The other 50% is what's left to pay the mortgage if you have one and anything above that is your true cash flow to do with as you please. 

On the other hand, what most don't understand is although the LTR may be cash flowing in your eyes - it may not be a positive number to the lenders underwriter depending on what expenses, etc. are shown on schedule E.

If you want to rent do you want current cash flow or do you want safer areas with more appreciation potential.Pigtown is the closest area to downtown that is still inexpensive but currently it is not very nice area.