Then with a solid financial foundation I could put money into buy and holds.

I would rate the neighborhood as B- Most of the people that live there are older 55+Regarding inspections, I have not had it inspected yet but I am actually training to be an inspector and I tested all outlets and plumbing and foundation stuff.

Im not looking for overnight wealth, more of a strong foundation for financial freedom over the next few years.

It's a little crazy considering we're building similar in Georgia for about $65/sf, but between much higher labor costs, a little bit higher material costs (material is more expensive the further north you go) and stricter building codes, I probably shouldn't be more surprised.I'll have much better numbers in a couple weeks once we have our foundation, framing and siding bids, and will update this thread if I have any new information.

I was informed by an investor in the area that foundation problems are an issue in the area.

Marie Poe the home is in good shape in a good neighborhood A couple of the walls may need sheet rock up dating because of a crack in it I have a copy of the homeowners lifetime warranty for foundation work but no visible foundation needed except those 2 small cracks I mentioned...my thought about owner finance was not for the seller/ homeowner to finance to the buyer.

I have been researching investing strategies for about 4 months and feel like I have established a working foundation and am ready to take action.

I have already had an inspector out and have bids on roof, siding, water damage repair, foundation, etc.

Hello everyone and thank you for taking the time to review my deal and give your professional opinion. ( I deal in rehab properties)I found a condemned house in my area and researched it in the tax record online and found that it foreclosed and it is owned by the bank.The asking price for the bank is $89,900 estimated through my research that the ARV is about $206,000 3bd 2ba house 1,964 sqft.I contacted the selling agent who advised there is no foundational problems and the roof doesn't need to be replaced BUT there is a septic issue and the basement has flooded with feces.

Found out there were some issues (floor uneven, no proper foundation - house is on blocks, thinks there's water running underneath without proper drainage system, etc.).