It is a good community to network and learn about all aspects of real-estate investing.

If you need market ideas, ask a guru, but they won't be teaching rules, regulations, laws, taxation, how they are accounted for and the pitfalls, one, they probably don't know and two, if they did, teaching those aspects is complicated for them.

The laser focus now is on the property conditon, getting your mind around potential defects, any rot, termite damage, and costs to repair or replace aspects of the home or walk away (and check the exact timelines for you to exercise this option in the contract or resolve it with the buyer)...

Modern major systems (roof, A/C, plumbing, electrical) will stay in better condition longer than in older houses.

It is a good community to network and learn about all aspects of real-estate investing.

Manager lives on-site.Ok, those are the things that are positive about the home and community.Now for the things I feel would need to be added/completed/renovated before ready for sale or rent:New gutters - ~$800Laminate flooring in kitchen and bathrooms to match entire house - estimated $500Stove/Oven - ~$600Fridge - $700W/D (optional) - $600Window in master bedroom - $200Ceiling fan in master bedroom - $200Kitchen sink - $200Redo all door trim/paint all doors/rehang, replace or adjust a few doors - ~$500 (just a guess)Add small door to water heater closet ~$100New master bathtub - ~$8003-4 panels of skirting need to be replaced - $ (no idea) but estimating $200Ramp/Stairs/Deck leading to front door needs to be replaced - $1000Landscaping in front - $200Cleaning entire home to make ready for sale - $200I'd like to get a foundation specialist to look under the home (free)Roofing specialist to talk to me about the metal roof (free)I need to ask her about the furnace (forced air) and its age and working condition.I need to factor in about three months of lot rent (at $375 per month) for the renovations to be completed - $1125And I'd like to have $1000 set aside for unexpected rehab expensesGRAND TOTAL = $8925This would mean that our negotiations to the seller would start at $11,075.First, are these figures anywhere close to realistic?

It is a good community to network and learn about all aspects of real-estate investing.

Hey BPgot a call of a bandit sign, He is very motivated because he is moving out, this would be our  first deal. we went to look at the house its really not in that bad of shape, needs a new roof and a couple cosmetics, and a very small foundation crack The arv is 73,000 he is asking 33,000 so its already much below .65%he cant go lower than 33k because that is what he owes. 

It is a good community to network and learn about all aspects of real-estate investing.

Is it worth is to keep it and have the hassle of continuing to find renters, deal with fix-up for many years to eventually pay it off and use it as income, or walk away with cash now..Long term I would have to do the roof, windows, back and front deck, and some carpet whereas I do not need to do these if I sell now.