It’s a solid approach, especially if you’re working with a smaller budget.

Also, try to budget for unexpected repairs, as REOs can sometimes have more wear and tear than anticipated.

The project dragged on for over a year, with constant headaches, budget overruns, and stress.

Obtain estimates for planned renovations and confirm if the allocated budget is sufficient.

Check out this Amazon list we built for our clients and new students buying their first one --> https://a.co/dCUgZyv.Stick to your budget!

They just doubled the MPG rating for pickup trucks.... 

You won't know the ARV correctly or the repair costs so your budgets will be crap.

A couple of thoughts specific to condo investing:1) Be sure to include the condo fees into your cashflow analysis, and budget for potential assessments as projected capital expenses2) Make sure the condo association is solvent - a good litmus test is whether or not the units are approved for FHA financing3) Make sure the condo association rules/regs allow for rentalsGood luck!

The project dragged on for over a year, with constant headaches, budget overruns, and stress.

Know your budget.