They also bought newer properties(often because they lived there before) and don't have a large sample pool of properties so they haven't had any major expenses in 5 years.

Major experience in your backyard, take him out for coffee.... or steak!

Around here a house you buy (and there aren't many) for $50K will be a complete dump or needing major renovation and will not rent for anywhere near $900 without major renovation to fix it up.

I've owned a short sale fixer upper for 5 years and aside from major renovations I planned on when I bought, I've never had to spend that much for upkeep.The deal seems like it's worth the effort to me provided the typical house buying stars align.

My question is is anybody ever did any major remodeling while the tenant still live in the property?

Just from the video, I'd guess about $35K (assuming no roof, structural, electrical, plumbing or other major issues).ONE QUESTION FOR THE PRO'S!!!

Whether that will be good for you or not will depend on many things: what happens when a major repair is needed ("reserve funds"), who will do showing and screening when there is a vacancy, banking, tax bills, accounting matters, legal matters ...Better to be informed on those sorts of matters before getting into any more shared ownership IMO.

A special thanks to:Josh Dorkin and Brandon Turner for the insightful and entertaining podcasts;Ali Boone for sparking my interest in Turn Key investing;Bill Gulley for sharing your wealth of experience through your many posts on mortgage notes.My day job is in Medical Sales, Major Accounts Management, but my dream job is to be a full time real estate investor like many of you.

Outwardly I didn't see any major issues, but I thought if a house is 203K or cash only, normally there is something fairly major wrong with it to where it won't qualify for a standard mortgage.I asked the agent about it, and he just said something generic about the 203K loan helping to pay for repairs, and that in this case he thought it was just for replacing the carpet.

According to what I am reading Android has a much larger market share than Iphone does now.http://venturebeat.com/2013/05/16/windows-phone-jumps-to-third-in-global-smartphone-market-share-and-could-be-second-faster-than-you-think/If that's the case I do not know why Android would not be a major platform in need of a BP app if a ton of users have the IOS systems.I think it must just be a preference thing.