My GUESS is these homeowners have been tricked/screwed in to signing a long term power purchase agreement, often with no buy out provision.

It is important to find something that was properly maintained, with modern plumbing, electrical and roofing. 

-Structural (foundation, wall, ceiling and floor)-Roof and Exterior(Roof Condition,Gutters and Downspouts, Siding, Windows and Doors)-Plumbing (Water Pressure,Leaks, Drainage, Pipes)-Electrical (Wiring,Outlets and Switches,Breaker Panel, Lighting Fixtures)-HVAC(Air Ducts, heating and cooling)-Water and Moisture Issues(Attic, Mold and Mildew)-Kitchen and Appliances-Bathrooms-Pest and Insect Problems-Safety Features

Estimated cost for remaining changes (all new electric, drywall, tile, fixtures, cabinets, roof, doors, windows, heat pump, some siding, and fencing.

Is the property under a high tension power line or down wind from the horse rendering factory or on a main thoroughfare or some other obstruction that you wouldn't want to live near?

This deal highlights the power of well-executed renovations and a strong partnership in achieving impressive profits.

With your income, you may qualify for an FHA loan with a smaller down payment, but buying now could limit your borrowing power and increase monthly payments.

I carried double the cost on Gas and Electricity to be safe. ==== Projected Income ====**Off Season**-$4,000/Month Rent Period: September - May (7 Months) Projected Income: $28,000**Summer 1**-$8,000/Week Rent Period: June (4 Weeks)Projected Income: $32,000**Summer 2**-$8,500/WeekRent Period: July-September (12 Weeks) Projected Income: $102,000**Optional** (Basement Apartment)-$2,000/Month -Rent Period: Year Round Projected Income: $24,000TOTAL PROJECTED INCOME: $186,000 ==== Operating Cost ====-Mortgage: $84,000 ($7,000/Month) -Utilities: $36,200Gas $6,000 ($500/Month) Electricity $6,000 ($500/Month) Internet $2,400 ($200/Month) Garbage $5,000 (Estimate) Pool $4,000 ($250/Week)Landscaping: $4,000 -Mowing: $2,400 ($150/Week)  -Clean Ups: $1,600 (Spring & Fall)-Weekly Turnovers: $8,800 ($550/Week)==== Legal Cost ====Summer Rental Fee: $20,100 (15% of $134K)Sandwich Rental Tax: $6,855 (15% of $45,700) NET PROFFIT: $38,845.00

Purchase price: $630,000 Cash invested: $120,000 Completely gutted this property, brand new electrical, furnace, propane, finished basement to create separate unit.New garage with rental unit.

I believe he said around 250, which seemed to be a lot given the small market they’re investing in, and the man power it would take to produce that much deal flow while servicing clients.