Even if you self manage you have a job being a PM so it's not a free cost savings.Now that the property is over improved with finishes you have to be ultra careful on who you rent to.

There is mostly fluff pieces boasting about all the advantages and very little talking about the potential disadvanatages.

There is a sold comp that is very comparable in terms of location and restrictions on building and I would be confident using that comp, adjusting downwards to be ultra conservative in submitting an offer.

Check out the ultra beginners guide.

I've been studying investing in RE for several months now and I've occasionally run across an email that is boasting about a individual property's "Replacement Cost Equity", usually a SFR.

Many of these homes are ultra high end usually showing more of the posts and beams inside of the finished walls/ceiling.

Even if it's an inexpensive system, it's another feature of the house that can be boasted.

I'm thinking I come right out and tell him my plan & see if he'd be interested in partnering.First and foremost, the seller doesn't meet criteria for ultra-motivated.

You don't want to repeat that mistake just for the sake of trying to grow ultra fast.

That remarkable 3BR 2BA brick SFR (built in 1948) with half bath in the unfinished basement boasts over 1600sq of habitable space. 2 car garage, price at only 77K.Based on the comps in the area I think I can sell it for around 135-140K when done.http://s994.photobucket.com/user/roundrock1977/library/bellwoodI realize I do everything wrong here : the property does not pass 70 rule, I buy for too much, I buy from MLS as opposed to from home-owner or wholesaler..but it offers an excellent learning opportunity...at a moderate risk . there is potential to make rental out of it for 1500 a month if everything else fails.