Two coats of paint including ceilings and trim for a 1200 sqft. house in our market is at least $5k including materials.

@Brian Castroi would invest or house hack locallyout of state is tougher than advertisedif your immediate area is "too expensive" go out an hour or two

I really liked what I saw and from some basic research, the housing/tenant laws seem to favor the landlord (unlike NYC).

I currently live in Silicon Valley but house prices aren't feasible for me here.

We are also offering our own in-house financing on smaller deals at 3.75%.

I've heard about how helpful the forums are and wanted to try posting my situation on here for some tips and guidance.I'm just starting my investing journey and my friend informed me of a house in my area that is about to go to Foreclosure. 

Use it to quickly assess properties and estimate renovation costs, which will help you make smart offers.Join Local Real Estate Groups: Get involved in local investment groups.

I went to a local bank today and my only option is an in-house loan.

I inherited the property, it's a lil shotgun house and it doesn't have a mortgage.

Here's a fundamental explanation to get your juices flowing:Assume a house costs $200,000 and rents for $1,500.