Are you essentially doing the BRRRR method?  

I don't pay rent/electricity etc. at the moment and essentially pocket my paychecks.

Remodel:  Buying a fixer upper sucks as a rental because while the property is being rehabbed, it is essentially sitting empty doing nothing but creating bills for you. 

I believe in my revenue numbers I accounted for the loss of rent of $7200 annually and based on the prior two years.

Miguel "Mike" Perez Actually their prohibition on short sales to family members/related parties is purely an attempted safeguard to avoid "sweet heart deals" where they may get less than market value, and if it were allowed it would also encourage many to try and get rid of part of their loan balance by simply running it thru a family member in a short sale, and essentially retaining the property.  

That could essentially make or brake any ideas.

Sounds like a conundrum because essentially we need both to be successful in RE or any venture in life at that.  

Hi,So I'm currently analyzing a property I found through Marshall Reddick that is in Memphis, 38119 (I look for the zip code in the forums but didn't turn up much).Essentially, this looks like it is in a good neighborhood; it was a distressed property bought a week ago @92K, and they are trying to resell it at 149K.Checked the rent with rentometer/craigslist and it looks like this could be rent for $1500 to $1700, depending.Here is the .pdf report.Only thing with Memphis/this particular area is that the education sucks.  

this is essential when buying, no matter how you buy.  

In my first 6 months I made 6 figures in revenue and about 30-35k in profit.