ETWhen Tylisha Slaughter learned that the West Philadelphia rowhouse she rented was going to be auctioned off in a sheriff’s sale, she sensed opportunity.Slaughter, now 30, aimed to buy the home near Cobbs Creek Park on the cheap and restore it from the “slumlord”-like conditions she, her boyfriend, and her two young children had been living in.But on the day of the sale, she said, she found herself up against an out-of-towner with lots of money to spend: Brandon “Dutch” Mendenhall.

Under this rule, if you spend at least 100 hours on the property and no one else exceeds your time spent, you can qualify as materially participating.

A straightforward way to estimate value is by looking at the price per square foot and using that to calculate your property's worth.In situations like this, it's worth spending a couple of hours yourself to get a solid understanding of the market.

That’s why the successful wholesalers and flippers I know spend $10,000 and more MONTHLY on marketing.  2.

You indeed have to spend that much money.

I spend most of my 20s living on both sides of the river in Saint Louis.

That would be a helpful addition to your plan as you would further reduce your cost of living.Also don’t forget from that $600 you are planning on getting in cash flow you have taxes, insurance, maintenance, capex, and vacancy to consider.With two homes, you may want to keep that extra $20k as an emergency fund rather than spending it on a third property and then be left with no emergency funds.

While I have found MTR tenants who stay a year, most start month to month and just happen to extend. 

So basically $2M annually.So I could spend $200k and make $24,000 in a year, or I could spend $200k and make $2M in a year.

Could be the best money you spend on the deal!