Just bought a house in lovely St. Petersburg Florida...

[Jacob Chak]

I didn't think I'd be in the real estate business but it just sort of happened this way.

I spent the last 2 months picking out a property I was comfortable with, organizing the FHA financing and 203k repair loan and here I am, walking into equity due to a healthy appraisal after all was said and done.

The gist of it is, I went through a lot of hoops because the house needed work, had awful tenants, was in cosmetic (but not structural) disrepair and had an inept real-estate agent. With repairs structured into the loan it's 171k and the house appraised for 195k. Comps in the are are going for 250k+ so now I'm sitting here wondering what to do next.

The reason I joined this community was I need to compile information on successfully renting the house, putting some finishing touches on it and eventually selling it. I thought I was going to be living in it until a twist of fate might be sending me to the northeast for an extended period of time.

Hope I'm in the right place, hello everyone.