Im a poker player and am not adverse to risk.

If I didn't have 1000 pokers in the fire right now, I would carve out time to do that.

She divulged this info at our monthly poker game... it just fell in my lap.Data:1700sf3 Bedroom, 1 & 1/2 Baths, w/  bonus office space1 car garage (typical for neighborhood)Comparable properties in neighborhood sell between $150-160kEstimated damage (moisture and general damage) with a contractor at $45k (yeah, nothing to sneeze at; new roof membrane, hvac and ducts (ducts on roof on old NM house), gyp bd work, mold abatement, all new flooring, interior doors, etc.New work would include redoing the kitchen (simple and small, maybe $10k)Upgrade electrical service so we can upgrade the AC ($1.5k)Spruce up landscaping front and back $5kSmall contingency of $4.5k for misc.I feel pretty good about $65k as a healthy flip budgetSo, she owes $98,000We think it only makes sense to go into this if we can get it for $60,000 max (begin negotiations at $50,000).Purchase + flip = $125,000Potential sale on low side of $150,000Potential Profit on low side: $25,000 - carrying costsSo, the real meat of the question (other than feedback on my flip numbers) is what to do about getting the property for its current worth.

I better get back to the Poker tables and get some more cheap $.

I've played poker with Tom Vu a few times, and I can honestly say, he is exactly the same in real life as he was on those infomercials.

The poker craze came and a bunch of TV shows shuttled hundreds of thousands of people to the poker sites to get fleeced by the already-experienced players.

As an avid poker player I understand that scared money doesn't make money, but I can't shake this voice.

I played poker semi-professionally (in addition to my day job) for about 15 years, and I was much more comfortable telling people I was a professional poker player than I am telling them I'm a professional house flipper... :-)

Is it cheating to play against yourself in Poker?

Investing in land is like playing poker - you don't play your hand, you play the other guy's hand (translation: evaluate the land as a potential end-use buyer, not as a seller).