Sounds like a pretty sweet deal, congratulations!

The property is in a fantastic neighborhood but is in crap condition, which is what I was looking for to build that sweet equity. - Construction costs with material + labor + contractor fees, with the final work write up APPROVED and signed off by the 203k consultant = 336k with the 15% contingency, totaling = 406K (plus architect fees, closing costs and permits).- So, 173K purchase price + 406K construction costs (with all the bells and whistles I wanted) = to about 565K total loan amount.

@Abraham Anderson be careful there is a reason why the deal sounds so sweet.

I was told I can phone and get the information, but if I go in person and sweet talk, I can get the clerk to check local criminal for me, in case it doesn't come up with my credit check company.

Man if that is true then and or if this does turn out to be as they are stating then I'm getting a sweet deal.

Being I had only a cellphone, this was a pretty sweet deal.

(it's a sweet deal for us)The problem is, the selling bank has already assigned the closing/title company and flat out will not change it.We know the title company is the worst on the planet and they flat out will not do a double close for us (even with us bringing all cash for our part of the close)We have a potential $20K in this deal.How the heck can we sell it on to our buyer (cash also) if the bank won't change the title company the the title company doesn't want to play ball with us ona double close?

Sweet I thought.

Most of my area is 2/1, and 4/1 only come empty about once a year, so 3/1 is my sweet pot.

To me its really dependent on your market, my brother invests in Cali and would laugh at 60k but in my market 60k is usually a nice sweet spot in a decent area with decent schools, but my market isn't an area based on or zip code and rarely neighborhood, its block by block.