. $750- Screws, adhesives and fasteners (cement board screws, caulk, etc) $50- Paint $40- Miscellaneous $100TOTAL: $2530With all of that said these numbers would be my BASE run, and assuming I was spending my budget amount on each item.

Dom, it sounds like you should touch base with a real estate friendly accountant, so that you can run some scenarios by him/her.

In many counties, like where I live in Jackson County, they will reduce the assessed value of a property that is dilapidated or bought in foreclosure or whatever for two years (if you challenge the value based on your purchase or other info).

Market value is based on what hime prices are trending for and what people are willing to pay for.

Based on those two numbers, I would dig in deeper.

This is just a start, but I think with a bit more information, you can avoid the usual answers here like, KC, Indy, Memphis, Austin, Cleveland, etc, etc (these are ALL fine markets, but I would assert that investing in any of those cities is NOT always the best choice for the out-of-state investor, based on answers to the questions above, as there are success stories on REI in almost every town in America).

I am wondering if folks can answer few basic questions : 1)  I am based in MA  - Should I form LLC in RI or MA?

(Statement of service if Veteran is still on active duty) 4) DD-1747 (Unavailability of base housing)Entitlement: If a Veteran has remaining entitlement, Veteran can obtain another VA loan while retaining ownership of his or her present original property or with the original VA loan still in effect. 

Based on the numbers you provided and running the deal through my software analyzer, the NOI comes to $14,400 (50/50 rule) and the debt service comes to $15,322.16, so you have a LOSS of $922.26 each year.

There are a couple of properties I'm interested in that are priced above my pre-approval amount and I'm not afraid to submit an offer based on what I can and am willing to spend, but the agent I'm working with feels it's a waste of her time to schedule a showing for a place outside my approval limit because "there's no way a seller would accept that offer."