The payment is hurting me and I'm trying to tackle it so it doesn't hurt me anymore.

Just be sure to say builders grade which is not any custon work ..formica counter tops , plain porcelain title , prefab cabinets, laminate floring , neutral colors ... you get the idea .. one why to really increase your profits on rehabs is to have a contractor do the major repairs and you or a handyman tackle the easy stuff .. laminate floors can be quite easy to install if your floors are level and trim is not installed yet .. painting can be done by a handyman ..tile work can be done also ..in some cases and some states these need to be done by a licensed contractor and permits need to be pulled .. it is different by each state .. if i saw that house with those pics, i would think your looking at at least $75-100k in rehab ( taking into consideration of Ca. higher construction costs ) it looks more like $35-50 in rehab here in Fl.

I would probably stay away... unless you can afford to buy up the whole block.There are some groups that are tackling these areas in clusters and turning "ghost towns" into viable areas by strategically bringing the entire area up at the same time through synergistic efforts of multiple investors.

My agent was going to have a talk with the listing agent tomorrow, but she said she wasn't going to talk about price much.I guess everyone tackles this differently.

Carpets need ripped out, walls need painted, windows need replaced, wood floors need refinished, kitchen and bathroom need updating, etc, etc.What order do you begin to tackle each project?

You may want to find an agent that specializes in these (I'm one of them), or a similarly non-REO distressed situation before trying to tackle an REO listing agent.

Hi Travis Glenn Personally on the first deal, I wouldn't recommend tackling a house with foundation problems.

Should I tackle the house that I feel has the better potential as my first purchase? 

Here are a few more questions, if you'd like to tackle them: 1.

Be sure to tackle all the mechanical's and important items first, such as roof, plumbing, electrical etc. as these tend to eat up most of your budget.