This is property in Bartlett that was purchased for $117,000 2 years ago by a homeowner. It is a 3Br/2Ba that currently rents for $1100/m. Our client purchased the property for 70,000 and we did 6,500 in rehab work to get the property up to speed. His cash flow including management is $153/month.
Here’s a 4Br/2BA in the Memphis Area. Appraised value was $95,000. Our client purchased the property for $57,000 and we did $12,500 in repairs. It rented out for 900/month. That’s $175/month cash flow with 19,000 in equity and no money out of pocket.