6 months deal, closed yesterday
Got the keys yesterday on a 600k IRS tax complication. Parents owed 600k to the IRS, passed the house to daughter. Negotiated for a reduce payoff with IRS using her own lawyer. Submitted my offer 6 months ago and stayed with it while others giving up. Here is the numbers, not a home run but still a winner nonetheless.
4bd 2bd SFR 1750 sqft
Purchase price: 75k cash
Repair: 5k (I do all the work)
ARV: 95k
Closing cost: 600
Rent: 1000 (possibly 1100 after repair)
Looking at Line of credit to get cash out for the next deal