I like to use White in rentals, let's face it, much easier to clean. the cheaper cost is certainly a factor.

Then run a cash over cash analysis to find your monthly mortgage nut, factor in furnishing, cleaning, maintenance etc...

The Title Co. can tell you if the Title will be clean.

I'm currently rehabbing a 5-plex so I should be able to take pictures later after cleaning up.

Cleaning, prep, forming, pouring, finishing - in our heck of the woods if you can get people who know what they are doing for under 4k - you doing pretty well.

you are calling it a deposit the deposit is for the rental agreement and cleaning, not GOD scratched my carjust check into all your options before throwing your money at a emotional messenjoy

Sometimes my consideration is mostly in the form of work - clean up and painting, but no major reno.  

That way yoir hands are clean. 

They had a friend (not on the lease) help them clean up the house and the friend has put in a bed and TV while the tenant was moving to new place out of state.  

-Caveats the home is foreclosed.Step 1: Buy in cashStep 2: Get renter in it (1000/Month)Step 3: Refinance for 60k (I would expect to still be at a DSCR of over 1.25)House #2 Asking price 49,900, Zestimate 135k.Caveat this house will have to remain on the market for a at least 6 months (or I find something like it)This house is also a foreclosureStep 4: Buy in cash from refi in step 3Step 5: Get a team of contractors in to clean, and fix what is needed to sell for 135kStep 6: Sell low, as in place on the market for 120k but accept an offer for 110kStep 7: Pay off Step 3 and go find another distressed home to fix.Step 8: Make it rental if step 6 does not work (DSCR would be about 1.25 with this one too)Deviation could be the followingStep 6: Could also be Refi for 102k Step 7: RentStep 8: Buy two more foreclosuresDoes this plan pass the smell test or am I off on my numbers?