You are at about a 1.5% which is not bad but not great either.

In one scenario, the taxes on a property were high, but the investor bought, fixed up the property in a month, and sold in within a couple months after, so the damage wasn't too bad.

@Hugh Le I saw this last year and thought it was priced high, now it doesn't seem too bad with the current Seller's market.What do your Comps say?

My bad.

Please don't take it the wrong way, it's really constructive criticism: it sounds like you really do not know enough about this type of deal to take a stab at it, regardless of if it's a good deal or not.There's a good and bad way to invest: top down and bottom up.

But still, not a bad idea.

From a gray area standpoint, it's as bad as going 5 over the speed limit, or as bad as accepting that burned DVD copy from your buddy.

yes there is equity in the house, but I have bad credit.

@Marcus JohnsonI agree that going away to an expensive college is a bad and expensive way to 'find yourself'.However, its often very hard for people to 'go back' to school, so I'd push anyone I know who's unsure of what they want from college to at least go part-time to a local community college, taking basic courses that transfer well.You keep yourself in the 'student' mindset.

Plus if you have a multi-plex that defaults, it is because they have bad tenants in them that trashed the place and the landlord gave up.