If you don't sell the property within 20 years you wouldn't get any of this benefit.Cash on Cash returns are very important if you are trying to build up your real estate empire quickly.

If you do anything in California's Inland Empire send me a post...

Orlando is too inland for me, although that's where the tech jobs are..We still need to work a good 10 years.

Tom S. is absolutely right,this is a crummy deal.Kelly O'Quinn,there isn't enough meat on those bones and one small extra expense in the rehab costs and your profit is long gone.Believe me,I have suffered this same scenario twice now with zero profits for either of us.Only the contractors laughed all the way to the bank.Unless you have the ability and finances to turn that too little 2/1 shack into a 3 or 4 bed/2 bath modern home,you won't get your time and money's worth.If you can't expand it,you need to pay no more than 210k because the property needs too much work over too much time to make it worth the effort if you don't.If the sellers are motivated badly enough they will take it.Otherwise,move on to a better project.The inland empire has much better 3/2 and 4/2 project properties you can get for 250k that are much more profitable potentially.

If felt this would give me a better foundation for my rental empire.  

Hi all! What a crazy life. I'm Jason originally from North County San Diego, and now living in Temecula CA, just further north outside of San Diego. So much to say... I'm a new business developer, and recently full ti...

One that I just read that I recommend is "Empire" by Mitchell Pacelle.

@Ben LengerAs someone who has a few "older" (Second Empire, Victorian, Edwardian) properties, I assure you there are more than the "little things" hiding behind those walls.The good news is the original house is too old for asbestos to be a big concern ... unless there were renovations in the 1920s - 1940s.  

My wife and I would love to build out a buy/hold empire :-), after we got “the itch” renting out our first home.

Can you provide any proof or empirical evidence to support these statements?