If you don't have the cash to do your own projects, find another rehabber and volunteer as his intern to learn the ropes, learn how to spot a good deal, learn how to estimate rehab costs, learn how to determine ARV, build a buyers list, etc.Once you have all those things under your belt, then start to focus on wholesaling...

Always have a reserve in place to be able to pay for unexpected repairs as they're sure to surface over time.Even with the unexpected road bumps, I continue to be a huge believer in real estate as a critical component of investment strategy.

I have seen quite a few international investors buy properties in Atlanta, Georgia.

There are investors that do this kind of thing with HUD homes as well.They sign paperwork at closing that they are occupying the property.Another component of this is fraud to a lender on a loan if you say you will be living there.The reason is lenders give certain rates to owner occupants because statistically you will fight much harder to keep a place you live in.If it's just a bad investment it is easier to walk away hence a higher rate and more down.This property from what you said is 2,400 X 12 = 28,800By half is 144,000 at a 10 cap based on 50% costs.The carpet and paint the bank put lipstick on it it appeal to a home buyer living in one unit and driving the price up.On a quad typically you could expect about 8,000 for the siding,4,000 for the roof,6,000 for 4 outside A/C units,if interior bathrooms and kitchens are outdated about 4,500 by 4 units is 18,000,then water heater and heater about another 6,000 total.So conservatively I have about 42,000 in immediate CAPEX.Every areas cost is different so I am just throwing mine out there.Now the other you say 20 quads total is what you need to worry about.If there are a bunch of short sales and foreclosures from vintage 2004,2005 loans then the new purchaser with a cash offer or a small debt service will rent below market to fill quickly and turn more or the same monthly cash as you.So you starting out at 600 rent monthly might go to 550 or 525 in your development.I have seen this happen.I have also seen even if your building is well kept quality tenants do not want to live next to the other buildings where landlords put in suspect tenants to fill up.Also some landlords with high debt service will drop rent instead of repair to keep tenants so they won't spend tens of thousands out of pocket to rehab.

Tax payers will now be able to dispose of a component of the building when it has been improved.

Don't drop that because if something happens to the interior (flood, fire) you will need that $10K to replace your components.

I also plan to move to Colorado so if any one from there needs an intern ( :p ).

There is no specific contract involved though most deals will use a P&S contract.Subject-to is also a technique and not a contact.Lease options have a lease component and an option component.

The lenders will either pull an international credit report or use letters from banks in France that you have a relationship with.

:help: :help: :help: 485 sq ft Studio in apartment turned condo, in community that rents at around 95% occupancybuilt 1983, updated in 20031/4 mile from Palms CasinoSales price 110K, 10% down required11K cashback at closing, if financing is done through preferred lender (covers 10% downpayment)Management takes care of all internal repairsCurrent tenant renting at 605/month, on lease through 3/1/08Developer offering leaseback of 770/month + no HOA fees or Mgmt fees for 2 years (guaranteed to net profit $90 per month after taxes for 2 years)After 2 years, owner receives whatever property rents for, plus is put in a "Shared Rental Pool": a quarterly check of [Going Rent of all comparable studios in community]X[% Occupied in community]-[losses/improvements of the community].