Student Rental (4BR/1Ba) - $90,000 List PriceOffer: $80,000 purchase price, 3% seller paid closing costs, 20% conventional financingCash Outlay: $20,000 ($16,000 down payment, $4,000 rehab)Rent: $1,240/mth Mortgage Payment (P&I): $344/mth ($64,000 @ 5% interest, 30 year am)Taxes: $133/mthInsurance: $150/mth Vacancy: $112/mth (9% - playing this conservatively)Maintenance: $75/mthCapEx: $125/mthManagement: $149/mth (~12% rents collected, conservatively assuming full occupancy)Utilities: N/A (covered by tenants)I like this deal for a couple of reasons.

I've been on BP for a couple months now.

I think there were a couple of RE investors at this dinner and someone brought up contract for deed and whether it was a good idea or not.

I don't have final numbers yet because we have not sold and I have a couple more expenses coming in.  

Seems like there's a couple new distribution facilities going up along 101 there every year.  

I sent the project in it’s current state to be bid by a couple other builders and am waiting to hear back with some real numbers.

Also there a couple great meetups in your area.  

Even at 500/unit, I'd still be elated just to keep vacancy as close to nil - and I understand, that may not be the best route either because of the quality of tenant - yet, I've narrowed down a couple of Property Mgmt companies in the area that seem to be reputable, and have been the ones that the real estate agents recommended, too.  

We currently own our home and have done for just a couple of years.

I commented in another website about asking a couple of friends of mine that through the day are working in neighborhoods to let me know if they see any vacant or distressed properties.