It suggests that you should aim to pay no more than 70% of the ARV (after-repair value), minus repair costs.Example: If the ARV is $300,000 and repairs cost $50,000, you should pay no more than $160,000 for the property. ($300,000 * 0.70 = $210,000 – $50,000 = $160,000).Walk the Property: Check for structural issues, roof condition, foundation, HVAC, and plumbing.

You should learn how to analyze property to ensure it's going to pay for itself.A couple suggestions:1.

I appreciate the suggestion to check out Tim Delaney’s posts - I'll definitely do that.FYI - I’m also a regular listener and fan of your BiggerPockets Money podcast, so it’s great to connect with the community here.

You have lots of income suggestions, work on them and remember it isn't forever.

Exactly what Chris suggests - buy the house from them and rent it back to them.

My suggestions would be in this order:(a) Determine the type of financing you qualify for - this will short cut the process considerably and save time on investment angles and next steps.

An uncontested foreclosure is often the best way to resolve issues with subordinate lien holders though I've also contacted some and explained they were about to be named in a foreclosure and suggested that could be avoided if they just released the property from their judgment/lien.

Hi Jeff, as everyone has mentioned, I would suggest house-hacking a 2-4 unit if you have the means.

You may also have to pay a broker to rent it, when usually the tenants cover that during peak rental season (May-July for 9/1 leases).Good thing is once it's rented you should almost never have vacancy if you're mindful of re-listing it in a timely fashion.

But if your budget is tight or your home only needs minor updates, your real estate agent can help you think outside of the box by suggesting simple DIY staging tips to help your home look its best.Bottom LineStaging your house properly can make it much more attractive to buyers, but it’s not a one-size-fits-all solution, and every home shines differently.