And then only to rooms upstairs (it's like an attic but looks roomy) one of those rooms includes the stairs coming up.houses in the area, that very much resemble something that was just flipped are going for 280,000 and are the same size or smaller.

Would it be unusual too look for a long term private money loan that would resemble a conventional mortgage?

., ReMax Advantage, Ashley Herring, Associate Broker, then your contact info.Beyond that, to avoid commission rules concerning an infraction called, "Sign Crossing," (a rule in Colorado) you should have a disclosure printed on the mailpiece that resembles the following:  "If your property is currently listed, please disregard this advertisement."

I checked the rents in the area, more recent ones at least, for homes that closely resemble mine.

@Kirby Davis, Ouch I resemble that remark!!   

For example, if there is anything resembling a vacant land on the NJ side, someone is going to put a decent sized building there.

I would do whatever would produce me more money.So do the formula ARV-immediate repairs*70= Asking price.Take your asking price and minus the sellers asking price(how much you would get if you wholesaled it)Compare that number to how much you would make if you decided to flip the home.Thats how I would go about doing itSample:Take the comps( 3 homes within .6 miles from your potential home that resemble you potential home in BD BA and SQFT)130k 101 west yellow st150k 222 blue ave140k 254 orange rdSay those three fit the criteriaAdd them up and divide by 3That is your ARVfor the sample the ARV=140kThen have a contractor come look at the property to determine what repairs need to be done to the home say that your repairs needed are 7,900 kTake your numbers 140k-7,900*.7=92,400 92,400 is the max that your offer could be.Say the seller wants 60k your wholesale fee could be 32k-clsoing cost ectOn the other hand what if you want to fix and flip it.

Maybe what you have most closely resembles a property management company in which the PM company collects rents, pays expenses on behalf of owners out of rents, and then remits net rents with a statement to owners.I don't necessary think that's optimal as you'd have to charge a fair market PM fee and would open yourself up to SE taxes on what sounds like it would otherwise be rental real estate income.You should talk to a CPA/EA that will sit down with you and have the deep conversation about an optimal way to structure things taking into to consideration everyone's facts, circumstances and goals.

As for the recession, I have no idea when it will happen but maybe when everyone stops talking about it.If a recession does happen, I personally don't think it will resemble what we saw in 07-09.  

Two cars fit inside an actual garage, two spots are uncovered, and the final spot, which apparently used to resemble a small carport with two lockers inside it, had doors added to it just before I bought my unit.When I first visited with my realtor, I was told the shed belonged to my unit, which implied that one of the parking spaces was mine since the listing said "parking + storage."