I posted this in the financial section, but it really applies to rentals...I will be paying cash for my NOO properties, repairing/upgrading, and then refinancing.

Things ranging from foundation cracks, water damage on front porch, broken plaster walls, door frames etc.

It's a tough game, I don't know Newark but there's areas here, like Bergen-Lafayette, that have broken hearts and bank accounts of speculators again and again.

I'm thinking of selling a two-bed to upgrade to a three-bed or even pay down a line of credit and try some of the crazy stuff all y'all keep talking about on the blog posts...The house is turnkey and ready to rent... is it better to place a tenant or leave it vacant and let the buyer suit herself?

I've been the beneficiary of several nice upgrades done by tenants: wood flooring, new kitchen, granite counters, new bathroom vanity, chain link fencing, etc.I've also been the.. victim.. of other tenant.. down grades?

I'm also told if I upgrade my license to a dealer, I would be able to do more, but still didn't get a definite answer as to whether I can finance, advising me to contact the Real Estate Commission.

I will be upgrading the seller's collateral by giving them my very nice duplex as security for the note.I figure after sales expenses, and recouping the down payment, I will have an extra $15K in my pocket, and an additional $250-ish / month cash flow, not to mention an amortizing loan instead of an I/O loan.I'm not buying the property.

I am enjoying the cash flow and doing some maintenance such as exterior painting, AC tune ups, upgrading ceiling fans, etc.You can hope for a housing correctIon or a 2009 like stock market crash but neither are very likely anytime soon.

With broken glass, damaged ceiling and general disarray, there was work that needed to be done and it was.

They will do all the heavy lifting to start and you just have to do the final qualification.If you do go for a sale then I would think that with the upgrades you mentioned you will probably get the best price going for an owner occupant.