To name a few:Base your underwriting on how you will operate the asset, not based on how it is currently operated or based on the broker's pro formaCreate a budget for each year you plan on owning the property + sales assumptionsHave an upfront operating account fund in addition to ongoing reservesBased the market rents on your own rent comp analysis, not the broker's rent comps15% contingency on top of interior and exterior rehab budgetConservative annual income growth assumption (no higher than 3%)

Purchase price: $10,000 Cash invested: $43,000 Sale price: $110,000 Worked on the project from June to December, when we listed, closed the sale on March 1, 2018. 3 Bedroom 2 bath 1600 square feet.

I have a couple of questions about a short sale.

I am a licensed real estate agent so I can pull sales and rent CMAs from MLS but not very sure of others. 

Tenant is responsible for keeping a clean house with no food the rats can get to.You might also try working with your neighbor to combat the rat problem (hopefully the adjacent house is not vacant).

In a residential sale, the seller/agent only needs to provide you leases.

lets take in consideration the house is in the middle nowhere and it takes months for the house to sale in the area.

I am working towards homes with a sales price near $150K.

You can start to Farm and door-knock and mail a choice neighborhood with a great sales price and turnover rateThe low-hanging fruit is ALWAYS going to be For Sale By Owners and Expireds. 

And I’m purchasing my 1st house as my own buyers agent.I’ve managed to get the sales contract done and the seller accepted.