Examples of houses that are good rehab opportunities?

[Derek T.]

Hello all,

I've been doing a lot of reading lately on real estate investing and am hoping to get started within the next year. I've taken a look at some houses on the MLS (via Zillow, etc.) and found a couple properties that could potentially be gotten for cheap, but would need a substantial rehab. The rehab work doesn't scare me if the numbers work out. I've read most of Brandon Turner's book about real estate investing, but I'm having a hard time translating the description of a good rehab opportunity into a visual. Does anyone have any examples and pictures of houses they've needed to substantially rehab that they'd be willing to share? By substantial, I'm not talking about foundation issues, etc, but things like gutting rooms, replacing drywall, replacing the flooring, new windows, new appliances, etc. Things that altogether could cost $20,000-$30,000, but where the "forced appreciation" results in a nice home that can be rented out for decent cash flow afterwards.

Thanks in advance!