Also, the appraisal cannot present any adverse factors, given the borrower's credit situation.Edward Rodriguez

I asked my insurance rep, and he discouraged me from using the fireplace as it is, given the college student factor.

Determine your costs (taxes, insurance, maintenance, vacancies, etc), or use a cost factor. 3.

That was a few thousand dollars I was not going to gamble on even if I did have a little more wiggle room left :wink: that was still there for the surprise factor....you know, "surprise, I didn't count on that needing to be fixed" Glad I passed on it, I was watching another one slowly drop in asking price.

It is possible to cobble together your own "record" feature but not simple, integrated, or reliable.I was thinking of the GrandCentral just for operating the phone number, not the business phone system per se.

What you are wanting to do with it (your exit strategy) stipulates what formulas you need to use to determine what the house is worth to you and what your offer is.If you are planning on fixing up the property and reselling it on the retail market, then knowing what the After Repaired Value (ARV or what the house will sell for all fixed up) is and the estimated repairs are the two biggest factors in determining your offer.If you are renting, lease optioning, or carrying the note, knowing the fair market rent will be a huge factor in determining value.If you are wholesaling, knowing what investors will pay in that area for that type of house is essential to determine value.To figure an offer on a property, start at the end.

I think this and other factors are going to limit the opportunites in REOs.

Now, should the mrtg even be a factor in my flip as far as the end buyer is concerned?

Depending on alot of unknown factors it looks like a 25-30k rehab, size being the main factor.

Money is important and that's what we are in this business for but there is the human factor as well.I would recommend Bruce Norris.