Asking price: 39,500Estimate Value: 70-75kRent: 1000MTG Payment ~ 400 with tax & insuranceI've noticed in the "Fly-by level" guide for newbies it recommends taking 50% of the rent for expenses then deducting your payments to make sure you have a positive cash flow.

It was a second story bathroom in an upper lower duplex and we ran a new stack to the basement.

In the heartland, rent yields are so high on the types of properties that Matt describes that you can easily structure the buyer's LC payment to be quite a bit less than the rent would be, even with a sales price that is 50-100% more than you just recently spent to acquire the property, with a rate of 9-10%, and with a fully amortizing 10-15 year note.Most folks that do this that I'm aware of do little or no work to the property beyond very basic habitability standard, they are sold as moderate fixer-uppers to folks that have the skills or connections to make the necessary repairs and updates.

First, I have no idea what prices in your area look like, what types of contractors you plan to use, how much of the work you plan to do yourself, what level of finishes you'd use, etc...so my comments below are purely speculation and generalization

Hope we can help you take your investing to the next level!

Taylor Brannen:My first property was a fixer-upper single-family town-home.

It depends on your comfort level.

The local gas utility should be able to identify how close the nearest gas line is, and how much it would cost to connect to it.How expensive it will be to run ductwork depends on the number of stories/floors/levels in the house, and how easy it would be to get the ductwork into place.

Also, if you put high level finished on the place you run a solid risk of having to repair again after erring it out.

At a higher level, I got a lot out of a book entitled [i]The Pledge, by Michael Masterson.