However, those investments will carry more risk and are [generally] more management intensive.

. , @Jd Martin @Lee Taylor after intensive saerch and talking here and there it sound like istall Schluter will a reasonable  option   http://www.homedepot.com/p/Schluter-Ditra-54-sq-ft...taking off the hardood floor not needed and its very old house and I am not sure what would be underneath. however i will go with the Schluter as recommended 

It will definitely take more time and effort, and you would have to weigh the costs of capital/leverage to fulfill such a time intensive project.

@Troy Chambers I don't know many investors who would invest for a 4% return especially for an intensive value add deal of which you don't really have any experience doing.

Strong relationships with local brokers who send him pocket deals and a willingness to go into "management intensive" neighborhoods and fix them up anyway.

Atlanta is BOOMING with making money (I have a 2 day intensive all about the Atlanta Market in April), while people think its cash poor.

Sometimes it could be something as simple as changing out the locks or as intense as a full on 'hoarder' clean up. 

You need to spends about 6 months of intensive reading and education on the subject before you actually consider a purchase.

I'm so grateful for this last year of intense real estate investing study, and cannot thank BP enough for the books I have read and the information I have acquired.I'm now looking to purchase my second property.

My take is that it's capital intensive ( you need investors or deep pockets).