My opinion, just about every property "can" be a good deal... you just have to accept that "good" is entirely relative to the property.Because of location it may take longer to rent, attract a lower quality tenant, have a more transient population, demand lower rent... etc.As long as you've taken all those things into account and STILL have a good price, why wouldn't you buy it?

Well I wish you would have posted here BEFORE closing them out.Length of credit history in good standing DOES affect your credit scores.If you have other credit that has a long history it shouldn't affect you that much.If however closing the 3 credit cards with 7 years of history you know only have a few credit lines with only 1 year or 2 of being open that is not great.In the end it shouldn't hurt you too much.When they made the new credit card rules last year or was it the year before credit card companies raised interest rates and annual fees from no fees.So what happened is the great credit people lost benefits because Obama wanted people with bad credit to not be taken advantage of.The credit companies simply restructured to make the same money.So A law passed that had good intentions but was misguided.The government believes when they pass a law people or companies will just take the loss but it never happens.So in the end these laws are just spinning wheels and not doing anything.I know many people who have closed their accounts once interest rates go up or annual fees are imposed.The downside is people want to maintain credit but some credit companies have been closing accounts if you don't use enough and they make a certain amount of interest off of you.It is getting rediculuos.

If I keep paying $1k difference, it's the same as holding onto the property for over 6yrs not taking into account opportunity loss, inflation etc..

I agree with Steve on a few of the issues you can have trying to get utilities turned on for short periods of time especially if they have been off for a long time.I believe that James V. mentioned he takes it into account on his offers if he cannot turn on the power.

If the money is coming from a retirement account be sure you get the wire ordered with plenty of time to spare, every custodian is different in how quickly they move.

With those numbers (assuming he has accounted all his expenses) who cares?

I have had an account/profile with Bigger Pockets for a while, yet I never took the time to completely setup my profile or simply seek the "How to Get Started on BiggerPockets.com" guide.Basically, I have always wanted to be involved with renting, flipping, DIYs, and nearly every avenue of real state investing, but I never had the money, resources, or guidance to do so.

I don't have IRA account.

All you need is the plan and a bank account.

If you did that, I would agree you're not ignoring operating expenses.You can argue semantics all day, but if you state a cash flow and ROI numbers that don't take into account operating expenses (and doesn't mention that you're not taking them into account), you are by-definition ignoring operating expenses.I'm not saying you're acting unethically and I'm not saying that you're not running your company completely above board; but I am saying that -- assuming the OP's cut-and-paste of your deals is accurate -- your claim to not be ignoring expenses is inaccurate.