The basement was virtually untouched and I could see doing on that side what they did on the other side.

There are consultants that specialize in Assisted Living Facilities; might be worth hiring a consultant so you know what you are getting into.

My only reason for wanting to do it is worrying about who they will hire to do it with out my knowledge.

Start saving up boxes, wide markers, tape, trash bags, cleaning supplies and hire help to start packing everything on day one after the eviction.

To limit your liability I would highly recommend you hire a property manager.

It is difficult to estimate the repairs even before buying the property but you get better with experience and you can hire a contractor to help you in the beginning or get help from other investors.How did the 70% rule work for us in Sudbury:70% x $850,000 - $250,000 = $345,000 MAO (Maximum Allowable offer)Since the seller was asking for $325,000 we submitted an offer for that amount and got it accepted.Tip 1: Agents are a great source of deals for properties that need work.

@Lance StokesI do primarily creative financing on the buying and selling,So I don't have yet much of the contacts you are looking for.And again Indianapolis is a big city with diverse 'hiring powers'But I feel it's ain't competitive and crazy as Cincinnati.

We learned our lesson and hired a property manager who is doing a great job and we hardly think of this property now!

I hired an insulation guy for flash/batt and noticed he didn't insulate between floors.

It sucks but it'll fast track your understanding of how to operate a real estate portfolio (it's hard to hire a good PM if you don't understand the full extent of what their job entails)Deal #'s: $411k purchase price, 20% down conventional loan, $4400 gross rents / mo, maybe $5k in rehab.