He uncovered that they had a guideline that indicated they would not fund an investment property that has been purchased by the seller within the last 12 months.

To you it might mean replacing one or two items.To a buyer it might mean the whole thing is turn key to pay the price you will be asking.Otherwise they will just go for a partial fixer themselves at a much lower price.I see it many times where rehabbers run out of money and start half-as#ing the last half of the reno.That is a sure way to be stuck with a future rental.Flooring,Kitchens,and Baths set the tone for most buyers along with layout and size when they walk into a property.Here we go but I will tell you I can't stand laminate.I have never heard a buyer say "Oh it's laminate this is so nice".It's cheap for a reason in that it's not that desirable.I can see for rentals in my area but not for flips.In my area big tile is put down more than laminate.If the costs is only a little more you want to spend on the things that pop.If you and 4 other properties have the same layout and price but you have the nicer floor,kitchen,and bath then most likely they will go for yours.Exceptions would be yours next to highway,no yard,etc.It doesn't have to be expensive just look expensive.

I'm having all my inspections done this Friday so I will see what those uncover.

Hello John:It's so nice to receive a warm welcome on an internet forum.

The agent said the list price is higher than what they can pay by about 10K, but it sounded so nice they wanted to see it.

Dave,IMO, Some of the best places to by in St Louis are South City (but all of South City isnt good, one street may be very nice but the next block over not so nice.)

You might also be able to uncover some "motivating" factors at the courthouse.

Last house set me back 3.5k in HVAC repairs for a furnace and AC unit.The house really is so nice it doesn't even need to be painted?

JScott,I have always been willing to share what I know; evidence is here on BP already :wink:And I agree that all of the so-called "secrets" have already been uncovered - again, evidence of that is here on BP.What I am getting at, is that these REIA meetings are full of newcomers who aren't all that willing to uncover those pieces of info on their own.

In my most recent potential deals I have uncovered what seems to be the basis of good seller motivation, ie.. family financial crisis requiring a quick cash sale of property, but I have been unable to convert that motivation into a signed contract.