Motivated Sellers are one of they key components to our business as investors.

@Jon HoldmanI appreciate the kick in the as*, this made me realize I should factor a larger portion of my proceeds to the "UN-expected".I have to agree, some years you do have it great and some you dish out a TON of money.

one of my favorite components of the BP offerings.

Minimum would be replacement of 1 or more major components in the first year but it might be more based on your inspection of the property.

It's not particularly difficult, you just have to do more legwork to make sure all of the components are handled (inspections, loan, title, closing, etc.).All you really need is a simple contract form (can be found online) and put an offer in writing.

@Andrew Whicker Based on what you have said, assume all major components are in need of an upgrade in addition to the cosmetic deficiencies.

Although my experience only dates back to 2007, I feel that I have a pretty good understanding of the components of a house.

Myself, I am looking to retire soon so I approach it more conservatively than I would have 20 years ago.Whatever direction you take, make sure you leave lots of cash reserve to cover that huge unexpected expense that will hit at some point.

If you know what you are doing and follow some pretty well proven strategies (you can learn them all here and in a few good books) that you understand before you jump in, you can always scrape a knee or get an unexpected nick or cut, but you won't break a leg and get seriously hurt.

Unlike Salary Deferral, the Profit Sharing component is part of the business expense and can only go into pre-tax bucket.