J&K is one of the least expensive cabinet vendors in Phoenix - I believe you will have to buy through a licensed contractor.

So, we're 'losing' 4-5 k each year when you consider the 3600 shortfall plus repairs, etc. 

I plan on painting it getting rid of all the cosmetic deficiencies and reconnecting all of the utilities. the city should be reconnecting the gas next week as it was cut off at the street when the house was foreclosed. 

@Jim K. the toilet looks cleaner than the floor!

i realize people think the money (equity) is sitting idle and not earning a return but look at it this way also. 140k paid off in 8 years is giving you 17.5k a year in income you will see in 8 years. 255k paid off in 18 years gives you approx 14.16 k per year in income you just dont see it for 18 years.

Now I wouldn't spend 700 k to make that 20k I am talking about 140 to 210k and a worst case scenario.

I'm very interested in either an FHA 203(b) or 203(k) loan.

@Jim K.

@Joseph Pucci i would have to agree with @Chris K..

I recently sold a home and have an extra 20k in the bank should I pay the credit cards off, or use the 20 k to invest into properties?