Having already been through this before I know they will hit is for missing siding, the whole said of the front building needs to be re-graded, the roof needed replacement and is causing water damage.

hopefully when i meet him on sunday and see the prroperty ill be able to get all this infoalso the seller said on the original listing that he is offering seller financing so the option is definately there. the other reason im liking seller financing is A) i have 0 credit b)im not really gonna be able to account where my downpayment is coming from since a familiy member is helping me come up with it.i cant really see any banks giving me any offers on loans...

So, I will be re-evaluating my approach to investing in real estate.

3) full carpet replacement (home is 1,474 sq ft)4) interior and exterior paint work needed (home built in 1940)5) needs vinyl windows (there are 12-15 windows)6) some wall areas need to be re-sheet rocked due to holes made from previous owner(s)7) basement ceiling is low and should be lifted (room to be lifted another 6")8.) need insulation and sheet rock in basement to cover foundation area to turn into a potential family room area9) new kitchen cabinets10) appliances (washer/dryer/stove/dishwasher/fridge)11) new kitchen countertops12) update bedroom closets13) install regular sized door and doorways for 3 bedrooms14) new front and back door15) turn upstairs into a master suite... knock out a few walls and alter 2 bedrooms upstairs to a master bedroom with a walk-in closet and an attached master bathroom16) landscape and curb appeal17) stairs are kind of steep leading upstairs... don't know if could be changed?

I would be willing to accept no cash flow if not negative if I have a property that will be re-developed in a few years or that I have leases rolling and I can push the rents.

I have been checking out this site for about a year and I finally decided to become a member. I

One of the things I like about forums such as this is that it's possible to see all posts made by a given forum member. I

While it's true you can't borrow money for a deposit you could receive a gift from a family member. I

If the property is destroyed for any reason, they likely will not let you re-build in the same place, which could affect the size of what can be re-built.

(i.e. if there are red flags in their past, there will be red flags in your future if you rent to them.