Rehhabing in a buyers market??

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I live in the FL suburbs where property value has literally doubled in the last few years. Recently the values in the area have neutralized and there are many fsbos and lot of homes on the market, many people believe the value will begin to decrease because of the competition. My question is would this be the right time to buy from a motivated seller, considering I rehab and relist in a buyers market? For a begginner it doesn't sound to promising. Any thoughts or suggestions?? much appreciated..

Lenny[/list]