If I were you, I spend a few dollars on an "expeditor" or "architect" to review and give you recommendations.

I saved money on the labor cost by doing the work myself.

You're going to give very low income People 30 to 60 days to come up with the money Yeah and Where are these people going to get this money- robbing liquor stores.

In December, my wife and I bought an old 1984 3/2 split level home with a walkout basement in a great area of Raleigh NC and spent the next 5 months renovating it, spending a little over $40k and pouring every ounce of energy and time we had into it.

If I get some money, I consider it a bonus.

Way more that what you might spend on a monthly basis.

This is because, as adults, we ALL have *some* familiarity with cars and money and we know how the business world works!

Based on national averages, the home should rent for $1,500 or more.If you don't keep up with market rates you will attract lower-quality renters, you won't have money to make major repairs, and you'll eventually get behind on maintaining the property, which means it will appreciate slower, attract worse renters, rent for lower rates, etc.

For example, if the tenant breaks a window and you spend $250 repairing it (materials & labor), you bill that back to them to be paid with the next rent payment.

If you are still interested in this deal after your research and thinking about the potential upside, then you can begin your 'pitch' by assuring the sellers that they'd save time AND money by dealing with you directly.