My question is would I be safe buying the property based on the income stream alone.

My question is would I be safe buying the property based on the income stream alone.

. $3.5% of $450K is around $16k, plus all of the closing expenses so to be safe I would say about $25k.

Agents don't want touch deals which are low value and not safe places.

You have to do double DD - on the asset and the business, but newer LLCs without any of the D's is a pretty safe bet.My last purchase was a $45k savings.

And unless you have previous construction experience, I would stay away from getting involved in a major rehab project on your first rental.A huge rehab (for your first project) could mean you end up with a partially torn apart duplex with no tenants and not enough cash to finish the project literally forcing you into a distressed sale or worse.IMO its more important to learn the process of being a landlord and be fairly safe by buying a rent ready house than it is to make a huge return on your first property. 

PLUS mail a copy, PLUS post it again the next day - just to be safe. 

Is this a good solution?  

Hope you find a solution to your problem!

Is there a solution for someone like myself?