Here are what the numbers look like at 76k:Purchase Price: $76,00020% Down Payment: $15,200 Closing costs: $4,000 (estimate)Rehab Costs: $11,500 (could be less)Mortgage Payment: $300Gross Monthly Rent: $1250 Cash Flow: $325 (using 50% rule).ROI: (325*12) / (15,200+4000+11,500) = 12.7%Zillow says the property is worth 130k, I am getting comps pulled as well.Just wanted to get some opinions on this, its getting harder and harder to find deals out there that are in good areas.  

I've seen writing contests for properties but never a raffle which would (in NYS) be considered gambling (games of chance) and also involving US Postal service which gosh they have rules about all sorts of stuff you can/can't do via mail. 

Second, check state, county, and local rules regarding pets. 

Hello everyone,I recently attended a reals estate investing workshop in my area and I did n't hear anything about the 2% rule or the 50% rule.  

I hope you're not talking about the "70% rule"?

In my opinion I dont think single family homes cash flow that great(less than 1% rule) here but multifamily seems to be decent just hard to come by good ones that aren't overpriced.  

@Jaelyn Whisler- yes, fair housing and equal opportunity rules to live by!

I believe he was flipping houses with cash, which was fine according to US rules.

It is a good rule of thumb to mandate renters insurance in the lease -- good point Jacob!

@Mike Alder  good luck I grew up in the business.. must watch movie for any land man is Glenn Garry Glen ross... you will see how all these lots you want to buy were created in the first place.land game dates back to just after the turn of the century  ( not 2000) when promoters went through the US creating mega subdivisions prior to any state or federal land development rules.. so you have all these old tracks and the parcels have been traded for 100 plus years.. lost at tax sale bought by someone like you or my dad.. resold on terms  those folks default or lose to tax's and the cycle repeats.Florida created massive subdivisions to attract residence's since no one wanted to live in swamps and such.. think Le High and Coral Gables..