Belton should be a good area, lots of lower-mid range priced, mature areas close enough to KC, not to mention the military influence of the area.

To me it doesn't make sense to save a few bucks by doing things the wrong way as that could really come back to bite you.

You can find a RE/Contract Attorney on Elance.com quick for less than $200 bucks.

This one was clean, in good shape, and seemed to only need paint.Hah...I now have learned that 'only needs paint' means plan to spend 5k...and not just on paint.We put in new doors as the old ones were warped, a new huge front window (found a great replacement at Habitat for Humanity in Chico for 60 bucks for a 60-50) and Im replacing a broken countertop that is 12'long.Then...paint inside and out...some landscaping.

We were a fairly mature group, we had small get togethers with friends, and a couple big parties, we took care of the place for the most part because we knew we would be taken to the cleaners by the property management company if we didn't, and because we are smart and don't destroy other peoples property.

For it to cash flow, it should have been on a 30 year note with a lower payment, but if rents are high enough to cover the existing note, taxes, insurance and a maintenance allowance and still put a few bucks in your pocket, leave the note you have alone.You'll need to put a calculator to it, as you are already into you existing loan, paying more to principal, if you refi, you're starting all over, so how long you have had your note also plays into any refi decision, not just the interest rate...and consider closing costs on the refi as well.Good luck

Without credit or a solid history, you will have trouble finding a lender to fund 100% for you.You may want to consider finding a money partner who could get say 50% of your deal for the funding and be on title. 50% of something is better than 100% of nothing.Once you build some cash reserves from yoru flip, you could then roll that into the next purchase and use a lender and keep a larger profit.You could also wholesale this deal too and make a few bucks.$30k acquisition + $55k rehab with $130k exit is all-in at 65% which is good for properties above $125k values.

Lots of houses seem to have the space heaters but I really dont want to run the risks involved just to save a few bucks.

If you have a couple bucks, invest it with a good mentor.

I paid my buck and then cancelled shortly after because ongoing updates were too slow in coming for me, but I feel it was a dollar very well spent.