However, it looks like ( from the initial inspection), we have a myriad of problems, mainly cracked slab which has caused the brick to fall apart all around the exterior of the house in sheets, almost all of the interior walls to crack and have water damage, a HVAC system that needs to be replaced, a plumbing system that needs to be replaced and an electrical system that needs to be replaced, not to mention the mold and termite damage.

I forget the cabinet cost, but the dishwasher was about $400 to buy and a little more for plumbing to install.

New cabinets, new granite, new 20" tile, new frieze carpet, new appliances, new doors, new plumbing fixtures, new light fixtures, new window blinds, fresh spa - $35,000 spent in rehab.Intend to sell using Owner Financing. 10% down payment + 2 loans. 1st loan is 75% of purchase. 2nd loan is 15% of purchase.

There are two weak points in the plumbing system of every residence that account for the majority of water damage to a residence.

- condition of home- does your home need any work - what is the age of the furnace/hotwater/plumbing/windows/roof/kitchen etc.....When calling families I would find out all you can.But as Valerie said - you may want to network with other buyers and give them leads and they can do the same to you or you can have multiple exit strategies so most homes will fit one model or another.

New roof, new AC, some new plumbing.

The 203(k) lets an owner-occupant borrow money for both the purchase and renovation in one loan, and put down only 3.5 percent.The program requires the use of credentialed contractors and can include cosmetic improvements as well as major renovations like replacing plumbing or electrical.

The house is in mint condition, with a huge basement already rough plumbed and framed for another bedroom and bathroom.

The reason why Paseo is listed at $75K is because it is fully rehabbed with hard-wood floors, new kitchen, and bathrooms, new plumbing and to top it off I'm offering to seller finance.

Possibly expensive things like AC/heat, electrical, plumbing, foundation, termite damage, mold, etc.Why not inspect it with a contractor or inspector?