The have deep enough pockets to lose money on rent while waiting to benefit from appreciation.

Hey everyone,I wanted to post and see if anyone who’s more experienced than myself can help me understand rough estimates for painting, drywall repairs and cleaning costs for a rental on the west side of Cleveland.To give some general information, there’s some dry wall cracks, painting of the entire interior which is 850 square feet and deep cleaning of the entire interior since the former tenants left behind a fair amount of food and broken furniture.

The asking price is $700,000.Now, having not completed a deal to date, I sense that I am wading into the deep end here.

Florin and most of deep south sac isn't great either. 

There is also $51,398.68 owed in back taxes from 2009-2012.Now, having not completed a deal to date, I sense that I am wading into the deep end here.

I live on the east coast, so my game plan would focus on properties in the Midwest as the price points are better.Appreciate your input, and please be blunt and tell me if I've fallen off the deep end!!

@Zach Quick The building is about 200 ft long and 80 ft deep. 

What changed was my understanding of the risks and experience using the system, I think debt can be very scary when you don't have a deep and long term understanding of the real life risks, and how to mitigate.

This property is best suited for someone with deep pockets simply looking to park cash with no concern for making money.

Holly, you are going learn a lot by jumping into the deep end of developing raw land.