i would have been jumping up and down at 68k, but it's ok, the numbers still work. as i have said it before, everything happens for a reason and my short RE history has proven that statement many times.the house is 1400+ sq ft, located in westland, close to garden city, dearborn heights, livonia, canton (tagging lol). it has 3 beds upstairs, and an additional add-on family room with a fireplace. that family room is worth the 10k they asked for. if it didn't have it, i would not have gotten it.rent will be around $1,250 per month. that area of westland might not be able to get me much more than that, regardless of the condition/sq. footage.taxes - around 3kinsurance - around 500 per yearpurchase price - 80k, 20 yr , 5 yr baloon at 4.95%repairs will be around 15k, i hope. i updated one IDENTICAL, 1 street away and it was 22k, but that had roof, exterior, and a lot of bad contractors to deal with.i am still wrapping up #21 and working on #22, so we wont start on this for at least another month. but i am happy that i am just 1 month away. just 3 weeks ago, i was 4-5 months behind in the work i had.what else?

@Hunter Estess  Just my two cents, the appraisal fee usually gets paid out at closing with the title company and is on the settlement statement.  

Does the seller have actual income and expense statements?

I'd say thats sort of "unlimited" Andrey, I think this statement gets investors in trouble...

@Joshua FrahmI'll preface my statement by saying that I'm a bit biased, but I'd take the Raleigh area all day long! 

How do you ask for proof of funds or bank statement from a potential investor interested in seeing your property without having them walk away?

I got the statement from a Fannie Mae purchase addendum.  

While 401k funds may not be used to secure a personal mortgage, those that are looking to purchase a personal home do often provide the 401k statements to the lender so that they can determine all of your assets. 

@Brent Coombs and @Bill Florence I do agree that with those statements to a certain extent.

I agree with all statements made on this, but we are all men and I expect we appreciate the character and warmth of the wood.