We found a lot in the inspection and now the seller is all sour since we walked since he wouldn't lower the price due to knob and tube found.

3500 sounds like paint and carpet, have you walked through it yet?

If that's your requirement then keep on walking or keep working on price or terms.Either way you have some numbers to play with.Jeff V

So I feel comfortable around the real estate and building/remodeling game, but am learning the foreclosure market/process.I did go witness a trustee sale last week and will try and go this week as well, actually walking through looking at a couple of properties and seeing what I might be willing to pay....maybe it will give me a feel for working through the numbers and seeing where the crowd actually values the property vs. myself.Anyway...would like to hook up with anyone in the Springs area sometime that might be willing to talk shop.Thanks!

He walked in moments before the sale and paid them off.

The class walks through example deals, talks about financing, and introduces you to our company model.

Wow, I feel like a first year university student that walked into an upper level course. 

The more units turn and burn the higher the repairs and the less cash flow.If local and you can get non-recourse and walk away if it doesn't work out then maybe you would at least get an education out of it for your time.

Easy answer...bad deal...run, don't walk, to the next deal that actually makes money for you.  

@Ben Leybovich I'm going to walk on this one.