Jake,Thanks for the heads-up via PM about your post.Here are my thoughts:Most likely, the reason that the short sale was not approved is because it was a WAMU loan which was, as most know, bought out by Chase bank in one of the biggest "behind the scenes" sweetheart deals of this century.

Here, century old wooden joists and floors can make tile tricky.

It sounds like it may be worth doing at least that due diligence.I just don't want to get so blindsided by what looks like a great deal that I get myself into trouble, as I know a lot of people do.... they walk into walls because they think its the deal of the century. 

If I were you, I would make triple~sure that you can make a great income (to dump into RE investing), in what you want to study and have as a career.Don't get me wrong, I am sure that 15th Century History, getting a Degree in Bohemian Studies, and maybe Underwater Basketweaving are pretty awesome, but will it make you money?

My faith in property managers is about as much as I trust my 5 year old to drive me to work.I went through two property managers (Gage Froerer Century 21 and Accuity Property Management) and realize one has to choose property managers as carefully as you choose your tenants.

Horses in Russia - by the thousands - died at the beginning of the 20th century, but they ate hay that was severly contaminated.  

at the Fox & Hound on 11470 Westheimer Road from 7-10pm(RSVP through Eventbrite) November 10 "Century 21 Networking Events for Real Estate Agents" at the BBVA Compass Stadium from 6-9pm(RSVP through REIA Houston Website) November 15 "Houston REIA - November Topic: Wholesaling for Beginner Real Estate Investors" at the Double Tree at 6 Greenway Plaza (venue changed, typically its the Hilton on Post Oakon the third Tuesday of the month) from 6-9:30pmLooking forward to hearing from everyone on here.

Half value seems like a deal of a century if it only needs 7k in work.

Sincerely,--Joanne Cothern, Realtor, e-PRO®Century 21 Adams & Barnes1395 S.

I have had a few transactions with significant hard earnest money that the buyer walked away from and did not close.When Phoenix was a white hot real estate market in the very early years of this century, people were putting up S100,000 non refundable deposits to purchase condominiums that hasn't been built yet.Conversely, by strange circumstance I found myself owner of a vacant, unattractive, small, poorly conditioned house in a rough area in a smallish Texas town just after the 2007 - 2008 financial meltdown.