We live in a working class neighborhood.

In reality, I don't see how you can, if expenses really are 50% of gross scheduled rents, and interest rates are above 6%.Nevertheless, there are many places, like my neighborhood, where rents are closer to 1/2% of purchase price.

I just got started wholesaling, so I called around to the investors I see in the newspaper and who have bandit signs up, asked them some questions, got their email and put them on my buyers list.

You should nerver over repair, and should only do repairs that are consistant throughout the neighborhood.

It's been a wait they are trying to get the title all cleaned up.Well today my realtor showed us a house in a great neighborhood, 2 bedroom, 1 stall garage (small 832 sq) asking $30,900 - assesed at $49,210 (foreclosure - Freddie Mac), we are going in at $22k for the house and it need about $10k to get it ready to sell but if we were to put carpet/paint in the house for $1k or so we could rent it for $550 easy and then do a lease for 6 mo's then finish it and sell it for $60k - do you think we should do it?

It's 2 houses in a not that nice neighborhood in Buffalo, N.Y.

Whether it's direct mail, newspaper ads or signs.

My background is not in real estate, but I am launching some new web services for neighborhoods and real estate, and I am attempting to learn as much as I can about how the industry works and meet the people involved, and hopefully make some contacts :DWell, enough about me!

Yes, I rent properties in a university town.No one but slumlords really deal with property close to campus because students trash the houses and the yards.Buy in the best residential neighborhoods because their parents are footing the bill and they want their children to be safe.

Showing income is an issue, so I know that adds to the chore of getting the refi's, but since my plan is to be very selective on the properties, making sure my ltv's are low (70 max) with current immediate neighborhood comps, I know there are some lenders still doing these both regular and private, but realize that can and does change quickly.