I had no intention to meet investors when I started volunteering for Junior Achievement.

I definitely intent to move to better markets once I have some equity to play with, but this seemed like a reasonable, although higher-risk starting point. 

Our intention is to pool around $10k into an LLC and begin in investing aggressively in securities for the next year so that by next summer we may have enough money for a down payment on a piece of realestate that we hope to rent out and reinvest into the company.

Send me a private message as I do not want to this thread to get to far off topic on our company as that was not my intent.

Below is the letter of intent, I have tried to make it personal and cover all of the details.

I would agree that 50k is probably pretty optimistic if the house is being called a tear down no matter what your intention is for it. think for just one minute the cost of remodeling even one kitchen and bath and then times 3.

I think if you can buy a new, single purpose LLC, newly formed by the seller just for the intention to sell you will be fine.

If my original intention was "buying for rental property" instead of primary resident, I would not buy my house as I barely break even yearly after including average appreciation.

My intention is just to build a portfolio.

Here are my thoughts and responses...Many of the houses around here are sold with a washer and dryer, so I do believe I would be at a disadvantage if any of the houses I flipped did not include them...but I will double check this with my realtor.A $1,200 range may end up being on the upper end of what I would consider...probably get away with something more in the $900 range...but hopefully that $300 isn't going to bankrupt the deal :) Appliances are intentionally a bit higher as this area does "require" stainless appliances.The front porch and deck are already there, so the cost for the deck is to make repairs to the front porch and the back deck.