Its good to know your market so you can make intelligent offers based on market conditions.

IS the $120k - $130k for similar homes in the same condition as this one....or in great shape and retail sales?  

I know that is arguementive depending on the area and condition of the home and buyer's pay for convenience for a property that is set up compared to one that needs TLC.  

But if I could get in to 3 fully rented average condition bldgs for no money down and take over loan amount with $150K equity?

Learn proper application rates for the conditions to eliminate further waste.

: Due to the condition I beleive this would be a job for a very experienced rehabber.

But I wouldn't make it easy for her, she would have to meet some kind of conditions.

I'd prolly just take out the 2nd one and do another accent tile to match the other one.Quick and easy fix.The tiles are ugly but they look like they are in great condition.

For example, find a good duplex, move in one half, and rent out the other side to basically live rent free.

Here's an example of how I'm thinking it should be done:If assumed vacancy is 5% on average at stable operating conditions and expenses are $20,000 per year, then tenant reimbursements should be $20,000 x 95% = $19,000 per year.I haven't seen any example DCF's do it that way though.