I am leaning towards method #1, but am not sure of the 'mechanics' of it.

New roof, new flooring throughout, removed popcorn ceilings, 2 new bathrooms, new kitchen, replumbed, new lighting, all new doors and trim and a ton of paint.

new kitchen, new floors, new trim and doors, scrape popcorn ceiling and paint.

Door knocking seems to be the most common method.

I called all the local lenders in my area and took notes as to which were investor friendly, and recommended this method.

We suggest the both and method.

I'm in the brainstorming stage.Do you think this method can work, or do you have another creative solution for this?

If you use the 70% rule (not the only method for determining purchase price), based on your estimated ARV, a purchase price in the $60k range would be a decent target.Another thing to think about is typically at courthouse step auctions, I believe you have to have all cash to make the purchase.Whatever you decide to do, best of luck to you!

You are absolutely right about the valuation methods, and for that reason I don’t treat them exactly the same.

I am most interested in using the BRRRR method to obtain rental properties.