My goal is to keep rehab costs under 8K ball park - if it needs more then that I dont want to bother.With limited rehab knowledge - what is the best way to go about inspecting these properties.

Originally posted by Sam Leon:I kept hearing people saying when in a REO situation, if the bank came back with a "HIGHEST AND BEST OFFER IN 24 HOURS",I have read this to mean that they did not receive offers high enough to meet their "minimum acceptable bid" and they are asking the ones who submitted bids to re-offer with their highest bid based on the assumption that their first offer was low balled.

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I have not given this much thought really as to how to, I did this for years and I have a completely different approach to underwriting seller financed as you need a crystal ball more than underwriting guidelines to meet at the time of a contract.

. - I want to know if the toilet floaty ball is out of adjustment that the PM will wiggle it a little before calling a contractor. - My favorite PM charges a little more for this, but he does monthly inspections on the property, inside and out, and the first 90 minutes of any maintenance is free labor.

1- I definitely dropped the ball on this one, as like you said, I was going off of the value for tax purposes.

But it sounds like it would take 2 to 3k to get the necessary soil test done and I'm not sure I want to put that kind of money into such an average deal.I think I still might have the estimates done but will probably take a pass on this one or else really come in with a low ball number and assume its going to be double the estimate to really fix everything.

Last comment I wanted to include was: When submitting my offer, is it unreasonable to include pictures of the major issues in efforts to justify my "low ball" offer?

We went a Black History month celebration at the Hilton and then went to my 12 year old daughter's volley ball games.6:30pm to 1am (and counting) Following up with investors on my marina dealCalling/Emailing investors to find an end buyer for our rented flip in Columbia, SC (we always have a tenant in place on the day we close because we choose our renter first, have them select a property from our specific list and on the day our renovation is done, the tenant is moving in)Reviewing posts on BP, CREOnline, Facebook and Craigslist and doing some postingTomorrow much of the same but add a few investor meetings.

If you have student debt and don't finish, you'll be behind the eight ball.