I am curious of where people find these low priced homes, if it is my location that is the problem, and if $30k-$40k homes are still possible to flip?

Hello,My wife and I recently found a property that fits all of the things we are looking for, perfect location, price, rooms, etc. except for one problem: The previous owner was a smoker :( Does anyone have experience buying/renting out/living in a home previously owned by smokers?

We are General Contractors and part of why my cost for the conversion is so low is because we have the resources to pay at cost and the property is located in a county with lower labor costs than other parts of California.

Rental Property is located in Upstate NY in Oneida County.I have a tenant who is currently scheduled to have their lease end at the end of February; they will have only occupied the unit for a year at the end of their lease.I'm not looking to extend their lease and would like to have the unit vacant upon lease end.

Lots of factors in every location. 

Usually an issue if older door is salvaged and new locks are installed that don't quite match up with the old door strike plate location.

It's a low barrier to entry and a good option for you, I would highly and I mean highly recommend you focus on location.

This gives them significant control and security.Joint Venture Agreement with Personal Guarantee: We establish a Joint Venture (JV) agreement that includes a personal guarantee, providing an additional layer of security for our investors.Memorandum Filing: We file a memorandum in the county where the property is located.

They extensively damaged the property from floor to ceiling.  

This property had significant potential for value enhancement due to its location and condition.