Next step is too upgrade the property by rehabbing the units at the end of the lease and raise the rents.When analyzing those properties I can imagine that the 50% rule wont be met.

At this point there are custom, quality choices available for the same cost and you wont have to assemble (pain in the arse).

Good question, glad you asked.You can rent it out for a while, hope that your tenant makes timely payments, hope that they don't destroy the house, and hope that it doesn't take 4 months to fill (while you're still making payments that is).

Very similar to what apartment complex's do, this will actually make your rent a tad bit higher, but your average person wont realize it, as they see that additional cost as covering the water/trash/sewer.

looking at your first post closer, it appears you have found an investor who did not do things properly as far as screening her client who then destroyed her property and she does not want to put out the money necessary to get it back into rentable condition.She was probably counting on the rental income to pay the mortgage for her and now finds herself in trouble because she cant pay that mortgage and she does not want it to affect her personal finances.

If it is such a good deal why wont the investor just buy it off the mls?

If you go too high & they counter you (which they will) you wont have room to negotiate.

However, since the house will have to be vacant for at least a month while these repairs are done, I''m concerned that there could be fire or something, and my insurance company could deny me, especially if they found out serious work was being done they didn''t know about.Anyway, my idea was to insure through TAPCO while the repairs are done (similar to Foremost, but Foremost won''t insure in Florida).

:)Personally, I don't think the fact that a lot of people out there want to destroy us has anything to do with religion (though it's easy to bundle it under that umbrella)...instead they want to destroy us for our way of life and our way of government...Yes, most of them are currently muslim extremists...but I wouldn't be surprised if there are plenty more out there that would be happy to destroy us regardless of their religious beliefs...

I have a number of houses that a seller is looking to sell. I was trying to whole sale one of them, but they will not allow me put it under contract so I could present them to my buyers. I am afraid to show the home...