No I have not been in person, and what you are describing is exactly what I'm worried about.I will say that I do have a contractor who I trust to do an honest thorough inspection (I requested several references who all gave positive feedback, and the one property I did ask him to inspect he found a major structural issue and immediately told me not to considering buying it).It seems like when most people run into trouble its because their estimates of vacancy, maintenance, capex were all too optimistic.

This must produce positive cash flow to protect downsideWith realistic expense estimates, this is tough at investor LTV.  

I’ll have to play with it.I haven’t gotten to the Estimating Rehabs book yet.

I estimate the market value to be 320k.

Manuel #1 Estimating Rehab costs is hard. 

I've seen some posts about the area, but nothing specific with numbers or rough estimates. 

For example, you want to buy a duplex for $400k and after spending $25k in renovation, what would be an estimated but accurate ARV?

And then there's the huge cost to hospitals, estimated at almost $1 trillion.

That consult with TrueBooks or a real estate savy accountant would probably help put some estimates/numbers on paper

Michael Anthony - 719-468-6419Answers his phone, shows up for estimates and for the work, honest and trustworthy.