If you want to look at it from the perspective of breaking even, you could make it work but I'd also recommend a midrange property like Julie did to get the rate you'd want for the amount of work it requires. 

Account Closed marketing in a targeted area where you know values and rent amounts is where your leads should come from.

From my understanding, this is not true however he has to hold her things "for a reasonable amount of time" which is usually 30 days or so.

It may help lower the cash requirement as closing if it can be negotiated that the seller pay all of the non-lender closing costs and then the maximum amount of closing cost contribution toward the lender's closing costs allowed by the lender.

While yeah, each day on market, interest continues to accumulate (assuming there is still a loan) and/or maintenance costs accrue, taxes become due, HOA's may become due, etc. but, at least in this market, it also appreciates daily by some amount.

Louis County so the land is worth a good amount). 

Joe,I really hope you get some good responses here with how specific portfolios have performed over time.I can tell you that the type of property you purchase, the location of the property, the amount of rent paid by the resident and probably most importantly, the quality and level of renovation are going to have a major impact on performance over time.   

Maybe the houses are worth a good amount and maybe you only would consider selling them in a package deal later. 

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bpThe second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

If the house appraises for 'X' amount from sales comps, Will would not be valued for 'X' + 15k of structural rehab above that.A real appraisal is just $400-500.