I graduated college with a finance degree not too long ago.

With taht, you still walk away with a small profit on the flip, and I suspect the $150k exit figire is conservative, you may end up with $175k with a fine rehab.Can you post some specific comps and actives for us to evaluate?

1.Cost of Note is 41K2.Vacant and secure3.My lawyer says it looks very good from a legal perspective.4.A final summary judgement has been signed by the home owner, its going straight to foreclosure…3-4 months5.My research and a realtor that I contacted strongly believe it would sell quickly at 62K-65K.6.Expenses to consider: 2K for the lawyer, 2K for past HOA dues, 2K realtor commission if sold, $1,500 prop taxes are due.7.2 bed 2 bath and 1,200 sqft, would rent for $950-$1000, could be a very good cash flow property8.Right off the I-75 and Cross-town expressway, close to Tampaemail if interested.

I have book knowledge with a Finance/Accounting Degree from ASU right here in Tempe, AZ (great school) and #1 in the nation with 68,000 students.

Gregory, others,If you do decide to go into pm please don't put a property "on hold" (their words) and let the grass grow to 5 feet and let the owner get a fine from city code enforcement like the PM I just fired in Memphis did.

Like any good businessman/woman they will look it over with a fine tooth comb.

Smoke detectors are a good one (Although if you're getting permits, lack of smoke detectors will cause you to fail a final inspection from the city 'round these parts)Other good ones - wire an outlet backwards.

And you lying to pull your own permits isn't going to make things better (plus, for HVAC work, you'd rather not have permits than have to lie to get them, in my opinion).I normally would not lie, but I really don't want to risk them coming in and ripping out all of the work he already did and hit me with a fine on top of it.

The buyers want a final walk through at 10AM Monday morning, then go from the house to the title company to sign.

There is a fine line between the two..On one hand Aaron is right...Find the deals and the buyers will come.