The problem is....they always arrive at numbers far less than a flipper is actually going to pay for the property, and they keep spinning their wheels and getting no where.So look at the actual purchase price people are paying, and the actual sales price, you know roughly the sales cost (I estimate 8% in Maryland), then that Delta is your profit and renovation cost.Now arriving at that renovation cost, its just learning and experience. 

You know what you pay now for your mortgage so figure out what you the difference is and if you can refinance your current place and get the right delta you are probably in business. 

first you should get 2 revolving credit cards with great beneficial rewards to YOU specifically for instance I travel a lot so delta card and hilton card etc. then you should use 1 card for business or particular transactions and the other for living expenses and only fill them up 25% of limit.. then pay off each month .. within 6 months you should see your credit standing jump exponentially..also you dont need credit.. if you find a great deal you just cant pass on .. then partner, raise private money, or Hard money and BRRRR your way to successhope this helps

130k to 90k would be too big of a delta for me even with the owner financing.

Know what points are, yield, delta, criteria, cap rate, R.U.B.S, holding cost, terms, AM (amortization), rates, balloon payments, etc.

Delta makes a real nice one for around $300 and I can put that on the budget plan at Home Depot.

That delta between the two would make me think long and hard about keeping a condo long-term, especially if the monthly HOA is high.

We are a team of three in Western Colorado based in the Montrose/Delta area and we are looking to purchase our first of many buy and hold properties.

Could be a coup for someone who knows how to deal with that stuff to get at a value and still have a delta after repairs. 99% of buyers aren’t touching it. 

You can compare to what you currently pay to what you find and that can give you an idea of the delta increase you'd get when you convert it to a rental.