All Forum Posts by: Max Vulcanus

Cheaper solution might be finding out where the water is coming from on the outside and then create a French Drain around the perimeter of the house. I have personally done it (well, I have hired contractors to do it).

http://en.wikipedia.org/wiki/French_drain

Agree with Mitch. Handling rentals in Low end neighborhood is management intensive.

Although you are handy, you may want to sub out your work to contractors. You may think you are saving money by doing all the work yourself. You are not.. You have just become a contractor. How much does a contractor make? You get the point.

For you to make any money, you may want to stay below 70% Cost to Value and that includes your Acquisition cost + repair costs. Say the house is worth $100,000 After Repair, and you estimate you need $15,000 worth of repair, then the maximum you would offer is $55,000 to acquire the house.