He may also enable you to dodge potential bullets by pointing out small things like, "This roof will create a 20' tall attic" (Seen it happen on a job where the owner tried to save pennies by designing the house themselves), or "This window is too small to meet the City's egress code, which exceeds IRC requirements"

Try making bullets beforehand so you are sure to collect everything you need during the call.

Lastly, remember you only get 1 FHA bullet.

The cash flow purists are going to hunt me down and beat me for this one, but here it goes. 2 years ago I bought a property (foreclosure, on MLS) for 26K, put a ton of money into it but got energy rebates.

I've found the low prices and allure of large profits and improving the area from such low priced property is an illusion and the savy investor should consider areas with better economics before placing high risk bets in these areas.Here are some bullets on lessons learned:- If you have debt service and tax payments, you may not have time to wait and find those housebroken tenants as your expenses clip away.

And they sucked up so much of their time and energy that they vowed to never buy anything but single families homes again.

All the cities I dealt with viewed a moved house as new construction, i.e. house had to be brought up to current codes including latest energy codes.

I didn't want to spend too much more energy on the deal until we got that data.

The reason is there will be rehab and extra time and energy for the return spent and also no income coming in.Even if you go 60% costs the numbers still work at the purchase price.

Currently I work as a fund support manager in the project finance group at a global solar energy company called SunEdison.