Obviously it will depend on the specific property however you should have a general idea of the size of the rehab you feel comfortable undertaking and budget you have to work with.

I am very much in the fact-finding stage of considering undertaking any type of flip in Penang and  I am sure I will learn much more about the feasibility once we are living there.

@Ryan KittrellI am not one to lecture anyone about their business, but tying up a property with no intention to buy or no list of persons to purchase is not a practice one should really undertake as it is a great disservice to the seller of the property.

Then they undertake a full renovation - a HIGH LEVEL renovation eliminating deferred maintenance.  

I'm more than willing to undertake these as well as some other expensive repairs but as I'm estimating them to be in the $50,000 plus range I doubt the sellers will be willing to come down to our price considering all the offers they received. 

Inquirers must seek the advice of their own legal counsel prior to undertaking any course of action related to this inquiry.

But, it is a task worth undertaking. 

It depends on the type of deals you're looking for, but if you're rehabbing houses that resell for $150K or above, I would expect that you shouldn't be undertaking any deal that won't return at least $25K.  

Inquirers must seek the advice of their own legal counsel prior to undertaking any course of action related to this inquiry.

Hi, I truly want to undertake REI with no intent of committing mortgage fraud --- but I want to understand more about FHA and USDA (still trying to build my credit and no investment property yet, with 10k allotted to invest).