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On paper I make about $7,500 a year. My only assets are four junk cars (all paid for). My only expenses are rent and utilities. I live in a college town where property values and rents are outrageous. I'd like to buy a rental property in the $80-100k range which would consistently rent for $1500 a month. I don't have shit for income but I can put 20% down. Do I have a chance in hell without a better job? With existing leases on the property?
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