Can somebody review these deals?
A friend of mine who is a real estate invest is offered me a couple of properties he has found. These are all to be held as rentals, but I am just not able to see how they would turn any profit at all. They all seem to be losing over $100 a month using the Rent/2 - PI Mortgage formula. He sees them as money making deals so I just that any other investor would jump on. I just wanted to see what you guys here think. Thanks in advance, reading posts on here has been very informational.
3bd 1.5bath
Purchase price 90k
5k Back at Closing
Renter paying $750/mo
4bd 1bath
Purchase Price 70k
5k Back at Closing
Renter Paying $650/mo
4Bd 1Bath
Purchase Price 65k
5k Back at Closing
Renter Paying $650/mo
3bd 1 bath
Purchase Price 90
5k Back at Closing
Renter Paying $650/mo
4bd 1 bath
Purchase Price 115k
6k Back at Closing
Renter Paying $800/mo