My offer of $133k was accepted, which is higher than my other rentals but this home needs no repairs. 1960's ranch. 4 beds, 2 baths, hardwood floors, new windows, newer kitchen, 2 car garage, newer furnace, newer baths.

He said it would ensure the work can be done and I can be protected.Expense Numbers:$184,000 Purchase price, comps for only a 4 BR SFH excluding carriage house and garage are $245,000$140,000 Repairs/improvements, including addition of a 2nd floor to the carriage house.

It looks like a good deal if you have included all the expenses and really needs no repairs.

What are some repairs that are can be easily and effectively done alone or with a friend rather than hiring a whole team to do the job?

The barricades down at the end of the street over the gaping hole in the sidewalk, locator markings on the pavement there and lack of anyone parked on that section of the street would lead me to think that they may be there for traffic control or to assist in setting up a lane shift for some emergency construction in the area since it appears the hole in the sidewalk is a collapse not a planned repair.

--------------------Strategic Framework:------------------Business Plan Outline:Business StrategyIntroductionStrategic GoalsManagement and OrganizationShortfalls and MitigationFinancial Overview10yr Financial Plan Projections10yr Asset/Liability Sheet ProjectionsMain Effort – Long Term Hold (Rentals)Goals and BenefitsProcess OverviewAcquisition CriteriaFunding OptionsRehab ConceptsProperty ManagementMaintenance and Repair AssumptionsProperty Disposition & Marketing PlanSample Long Term Hold InvestmentSupporting Effort 1 – Real Estate AgencyGoals and BenefitsTransition PlanMarketing PlanSupporting Effort 2 – Short Term Hold (Flipping)Goals and BenefitsProcess OverviewAcquisition CriteriaFunding OptionsRehab ConceptsProperty Disposition & Marketing PlanSample Short Term Hold InvestmentAppendicesMarket AnalysisNegotiation MethodsRental Analysis SheetRehab Analysis SheetInspections PhilosophyRehab Process ChecklistSample Contractor Statement of WorkSample Contractor Lien WaiverSample Rental ContractKey Partners and ContactsReferences

Add on insurance, property taxes, and repairs (bound to be high), and the cost to the landlord should be in the range of $900-1000/month.

Rest of house in very good shape, estimating $50,000 in repairs to be conservative, hopefully 1/2 that #.That is the basics for these two that I am looking into right now, my preference in RE is buy n hold for long term wealth building and possible cash flow.

Accessing value is as much an art as a science. 10% can certainly be explained to justify an offer and bringing up deficiencies with repairs along with reasonable profits for the project can go further.Wayne, not sure what you were getting at, net listing issues are certainly a concern for licensees investing on their own account in various strategies.Here, the requirement for disclosure is "upon the first meeting" you can meet someone and talk for an hour about anything, but as soon as real estate is mention, disclosure of being an agent/broker needs to be in the same sentence.As to TREC, I'm surprised that Texas is so consumer oriented with respect to RE considering their political business prone attitudes in other areas.

Estimated rehab: $30k (remove carpet and refinish/ repair hardwood, paint exterior and interior, redo kitchen and bathrooms.