If it were my personal residence, I could spend 5 or 6k to make it more to my taste of course but 3 or 4k gets it in salable condition, subject to inspection of course.I was actually thinking of putting in an offer for 105 with wiggle room to 115k. 118k would be about my very top.The thing about this place is the area is moving fast.

I dealt with a horrible once and it left a sour taste ever since.

Curtis , that works sometimes but what I found is that human nature will prevail in the long run or when there is enough money on the table and without a legal obligation to pay you, eventually someone won't pay and when that happens you get a bad taste in your mouth that is hard to get rid of.

Want to get a taste for this biz?

Fix it up for as cheap as possible (delicate balance use good taste) and rent it out.

@Chad Clanton, if you get through all of this and make a profit on your deal, I'd congratulate you on an unforgettable and invaluable learning experience and ultimately, a very positive result for you on this one.

Leaves a bad taste in my mouth.

When buying property you have to know how much to fix up to get performing or being able to sell it or is it going to be demolished and would you have residential or commercial land.Cheaper isn't always better.I can buy a dollar burger that tastes like crap or get a great burger for 20 dollars.It's takes looking around to find a great burger for 6 to 7 dollars.It's the same with real estate.

It will give you a chance to see how being a landlord is, dealing with one tenant, managing a small property as well as putting other people's money to work for you IE. having your tenant substancially pay down your mtg freeing up cash for you to do other things with IE. invest, save, pay off debt. etc. and finally be able to capitalize on some great tax advantages on your federal tax return.Owner occupying and managing a small 2 family is about as easy as it gets IMO and this will give you a taste of the business.

another thing - studies indicate that cpvc leaves "plastic" taste in the water.