You need to find a comparable size house (bedrooms, baths, and square footage) with similar attributes and in the same area to be able to accurately determine its true value.Then you would need to determine an accurate estimate of repairs/updates needed to sell the property for that area.

To be successfull you need a spirit inside of you that will allow you to objectively view a situation, make a rational decision, have a good math, business, and negotiating backgrounds, and in my opinion the two biggest attributes that are needed are the ability to make a decision (it sounds easy but it iw harder than most can possibly believe).

My work does keep me out of town often, so this attributes to my slow start into the business, but while I am away, it gives me time to learn more about investing.I look forward to meeting other Investor's.Anthony Hill

I have a duplex that had water issues in the basement this past blizzard/melt/rain.The story goes:This is a new duplex for us, came pre-rented, and the tenants who have been there for years said that there was only a very minor issue in one corner of the basement that we attributed to bad downspout planning.

Many times folks try to make a NOO a 2nd home designation but when it is too close in geography, like on the same street and does not possess any significant attributes to make it believable, the home will be considered NOO for underwriting.

There is no strategy that is so unique or informative or secretive that someone with a bit of creative thought, one with logical thinking attributes could not figure out having a good command of basic real estate practices.Now, I'll yield to marketing, yellow letters, advancing and promoting yourself, phone systems, the generic business stuff that is not really so much an issue in RE, or such hardly regulated areas.

Use descriptive, straightforward terms that tell the physical attributes of the home (like marble, spiral staircase, gourmet kitchen, and solid bamboo flooring).

I will attribute the slow replies to the holiday, and give them a little more time.

If you add 11,000 of other funds, buy another property at 25,000 and rent at 2% you get 500, but you can only attribute 280 of that to the cash out refi money of the current property.

I can't really speak to your financing out of a FHA loan, but I'm curious as to what you feel has attributed to the large amount of appreciation ($111K if we use the low number of $480K) over such a short period of time, since you've only invested $20K since purchase on renovations?