But if major upgrades or repairs become necessary, and you don't have, or didn't create a depreciation reserve, the dream could easily turn into a nightmare.Back in the lat 70s early 80s we used to count on inflation bailing us out - in a few years the property value would increase substantially and we could obtain a larger loan and pay for upgrades that way, but that really doesn't exist any more.  

lat=33.32983150282738&long=-111.68743913281254&market=phoenix&sf=1%2C2&uipt=4&v=8&zoomLevel=10/url]2nd prospective property: [url=http://www.redfin.com/AZ/Phoenix/2222-N-27th-St-85008/home/27888917/url]Thanks in advance

When we rehabbed it we went with NG forced air HVAC to eliminate the old system & having to trace pipes in walls/ceilings.We have also found the older thin metal p-traps frozen so we drain or rip them out.Our problem here is water meters freezing & that's a major issue if they burst.However, we currently have a SFH 'winterized' but we do have the heat on (55deg) & our last NG bill was $55.96 & that's cheap insurance !!!! 

@Mike Nguyen  @Rich Ng is correct  its your job as the buyer to CYOAF. 

Some areas code enforcement is nasty, other areas, if you only put them up late Fri-lat Sun, you will probably never have an issue.

Lat time I was there was for a softball tournament I played in several years ago.

I could understand the meaning of targeting the traps versus the lats instead of just "hitting the back."

This is a no equity deal, I would do a lease option assignment and get some training from the K I N G of lease options in TX, @John Jackson who I trained in lease option assignments in 2001, and hes done only 450 lease option assignments or more.Just dont make fun of how he looks or talks, hes a little goofy...

Banks have gotten VERY stingy latly in my markets.

Almost all his savings were wiped out.This included money for his family, two schoolgoing children and holiday plans.Mr Kenneth Ng, 43, never imagined himself to be a real estate investor, but after listening to a speaker at a property seminar, he invested almost all of his $80,000 savings.The supply chain executive, who earns $8,000 a month, bought a "fixer-upper" in the US city of Memphis for US$55,000 (S$74,500).A fixer-upper is real estate slang for a property that needs maintenance work, such as redecoration, reconstruction or redesign, before it can be lived in.That was in 2013.Mr Ng never got the promised returns.The property guru who made the sales pitch?