Just want to follow up my last post with some good news. I was able to get a deal done this week for a guy on a duplex that should be an absolute cash cow. He purchased it for about $1,000 under the assessed value and should be able to rent it for $900 a month. Given the place is in really bad shape in takes a special person (very handy one) to make a deal like this work. The place has about $45,000 worth of damage if you were to contract the work out... but if you can do it yourself the price tag would be about $15,000. Just goes to show that there are some great deals out there and if your capable of buying then you should.
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