Sold off many of them and went down to the bare essentials but building the collection back up with top of the line pieces.I do have to say that for all this time, I never shot sporting clays until fall 2 years ago.

I just bought a house I am going to rent out and it has a high quality, but nicely stained PINK carpet.

But I barely hang on.

:roll: BTW - this stain is a lighter pink because she borrowed my $200 carpet steamer I lent to her as a good deed.

I've seen 800 square foot 3 bedroom 1 bath homes that I could barely turn around in because of the size and layout.

From an investor's standpoint, condos usually come with HOA's (which can kill cash flow and fees can increase dramatically out of the investor's control.)Not to say that there are not any investors who purchase this type of property, but most experienced pros tend to stay away, baring some unusual circumstances, such as a condo conversion opp, or the incredible sellers market from 2002-2006 in CA, Vegas, AZ, FL, etc.

Black wires to gold screws, white wires to silver screws, and green or bare wires to green terminals.

As I barely understand the concept right now, is it just buying a cheap house that needs work and then selling to an investor for him to make money off of by selling to a typical occupying family or resident for a profit?

This has bad idea written all over it.First, lets look at this as a pure rental and assume the market rent of $1100 and a purchase price of $100,000.Rent: $1100Expenses: $550NOI: $550Payment: $665 (P&I only, $100K, 7%, 30 years)Cash flow: -$165Even with the more optimistic assumptions I tend to make, this is, at best, barely break even.You're probably going to need to put some cash down to get an investor loan. 20% is pretty much minimum.

So, even as a lease option, you're probably just barely covering the PITI payment, if not coming out of pocket a bit.Sorry.