Just kind of mirroring what other people have already said, but there's some definite risk both in that market and in that price range.Are you sure you can even get a property in a C class neighborhood with that price range?

If your goal is to become wealthy, then start to mirror those who are already there.  

If you are renting, that is a good model.On another note, one option we have used in place of sub 2 is to lease option the property from the seller and have the lease option mirror the underlying mortgage terms.  

Get on a plane and visit their office and meet the executives in person.If you put effort into finding the right sponsor(s) to invest with, you can reduce the likelihood that your experience will mirror some of the horror stories out there.

As for the interior, here is the high-level order: - Demo - Mold Remediation - Framing - Rough HVAC, Electrical, Plumbing (any order) - Drywall - Carpentry (Doors, Windows, Subfloor Repair, etc) - Major Concrete/Tile Work (Fireplaces, Showers, etc) - Painting - Flooring in the Kitchen and Baths - Cabinets/Countertops - Sinks - Finish HVAC, Plumbing - Finish Electrical - Additional Tile Work (Backsplash, etc) - Appliances - Flooring in Rest of House - Trim - Outlets/Switches/Registers/Smoke Alarms - Mirrors/Towelbars/Other Finishing Details - Cleaning Some things can be done in a different order.

:wink: Here's a hyperlink for folks to click right to article:http://nreionline.com/images/M&M2010Outlook.pdf

Eric,I had taken a 3BR 1.5 BA and added one of those neo-round showers to the 1/2 bath (that gives leeway to calling the result a 2 bath).The potential buyers all just loved that smaller bathroom, with that corner shower, finished in the cheap 18" white vanity and matching mirror with ceramic tile floor.

As such, having granite countertops, higher end carpet, multi paint colors, lush landscaping, new kicthen appliances (stainless steel), mirror sliding closet doors, ceiling fans, recess lighting, etc. all cost money but get high returns in my area.One other note: Because I complete higher end quality rehabs, my time on market before accepted offer averages under 14 days!

We had a close call on a very large deal from an investor and bank that had mirrored the identity of officials in Dubai when they were really in Nigeria.

If you're looking for someone to blame - look in the mirror!