Cash flowing deals are easier to find in tough areas, but it takes a special type of landlord to profit in such areas.

The reason i ask is I am in a similar situation where I could sell for a small profit $2-3k, or refinance pay off my partner and cashflow $350/mth as a rental, all the while gaining appreciation(ideally).

That puts your profit at somewhere in the $17-27K range, which is likely more than 20% of resale value...which is where I like to be.You could probably even pay a little bit more if you're confident in your rehab and ARV numbers.Good luck!

I explain if we buy it for cash, we are gonna turn around and sell it on owner financing for a profit.

Then, twice a year, the manager makes an additional payment, based on the profits in excess of the fixed rate.

These are decently profitable rentals and I have a concern that the city would look to increase property taxes I am looking to reduce based on rental income.

The other's are correct, finding flips in OC THAT CAN MAKE A PROFIT is tough.

Volunteered with habitat, did some gut rehabs with non-profits, Today, I may be doing one this summer, I'll walk through and run my mouth that's about it.

Yes, the opportunity to flip foreclosures can be done at $1000 or less property depending, but the folks I know profiting on that have multiple employees making as many offers per day as possible and playing the numbers game.

There may come a point when the bank is willing to let this thing go at a price that will allow you to perform repairs and still make a profit.