You don't want to guess at what you think is a good deal, put it under contract, and then not be able to sell it and lose your earnest money.So here is how to get going:Step #1GET CASH BUYERSYou can do this by advertising, going to local real estate investment meetings/clubs, putting up bandit signs(if they are legal in your area), using craigslist, going to tax sales or sheriff's sales(all cash buyers), building a website and driving traffic to it, or you can pay for access to a list(just google "cash buyer's list).Make sure that when the cash buyers call you, that you find out what types of properties they want, how many beds/baths, square footage, what area they want properties in, what price range, if they are buying with all cash, how quickly they can close, etc.

(the numbers are little better for fourplexes but not enough to justify the management headache) The maintenance costs and square footage are about the same (and duplexes around here are not even two story such that you would have a smaller roofing cost).

I had no problem with that, EXCEPT, that the city had increased the minimum square footage allowable from 1000 to 1200.

They look like they could be but you have to make adjustments to them based on sq footage and additional bathrooms, etc.Make sure your square footage is correct too.

square-footage x $10 to $15 = repair cost.this is a quick and dirty way to determine repairs, the worse the condition use the higher number.Now take the deals you've got, run the formulas on them.

based on the Sq footage of the house.

Property DetailsDate Submitted:2010-May-01 16:56:27Status:For SaleProperty Type:DuplexBedrooms:4Bathrooms:2Square Footage:2000 square ft.After Repair Value:$262,000Cost Of Repairs:$10,000Asking Price:$185,000Equity:$67,000Flexible on price?

I did see something that said, for estimating repairs, you should first determine how damaged a home is and then take a rough number from 5-25 (5 on a home that isn't in bad condition) and multiply it by the square footage of the home So a home that needs moderate repairs and is 1000 sq ft may need 10-15K in repairs Is that a valid rule of thumb?

Consider longer terms and low down payment – this move will make you keep a higher cash flow, preserve your capital to have better utilization, and allow you to redeploy your “capital savings†to other business activities that will generate profit.6.Consider more square footage – buying increased square footage in a property than what you currently need may be an advantage rather than a liability.

Assuming your doing a typical Assignment of Contract and not Short Sales or any type of seller carry deals, you can start with a list of Absentee owners for whatever area your targeting.List source and Mellisa data both have lists that can be ordered with your pre-determined criteria such as year built, square footage, lot size, tax assessed value, etc.