Two dishwashers, some lights, screen enclosures, some inoperable cooktop units etcMy Estimates (note that the market CAP is 7-8%):- WORST case scenario for rents ($1225), occupancy rate (88%) and high repair costs ($75K): 2.3% CoCr and 5.1% CAP - BEST case scenario for rents ($1300), occupancy rate (95%) and low repair costs ($20K): 7.6% CoCr and 6.6% CAP rateEven though I strongly expect the numbers to look closer to the best case scenario above, considering my out of pocket expenses are going up with all of the repairs and also that the stock market is tanking right now and money is becoming scarce, I'm not so sure about this deal.

After that we did a full gut job rehab on the condemned unit including new cabinets, counter tops, appliances, shower, vanity, toilet, light fixtures, plumbing fixtures, refinished the hardwood and put LVP in bathroom/kitchen and finished it up with a fresh coat of paint.

We need to be turned the lights onto these vultures, The Plaintive Lawyers.

There are three different stages that you will find properties in right now - needing a lot of work ( competing with the local flippers) light work ( hot hot market in most of DFW) and turn key ( competing with the FTHB) Are you looking to house hack ?

I plan on ripping out the old carpet and putting down hardwood flooring, updating light fixtures, bathroom, ceiling fans etc.  

Until the red lights come on anyway....  

He told me that his mother warned him to get out now and he started lowering his selling price $5,000 a week until he sells.

Thanks  Light industrial zone (LIL) on 2.55 acres with high freeway visibility and a convenient location.

Have the ceiling fan replaced with a much more heavy duty one and wire it to the light switch so it goes on when the light is turned on.

You can use the VA Renovation loan to purchase a primary residence that you intend to occupy. then you can sell it down the road if you so desire, but you must intend to occupy the property as your primary residence, and you get close to crossing the mortgage fraud line if you buy the home with the sole intention of flipping it.You can't really do a live in flip with the VA loan where you do your own work either, because the VA loan (non-renovation) won't let you buy a trashed house, and the VA renovation loan requires you to use a contractor on the Dept. of Veteran Affairs registry.Hope this helps, I have two articles on BiggerPockets that should shed some more light on the VA loan if you would like to read more!