Work involved is alot of elbow grease, enclose carport to garage, some sheetrock work, ext. and int. paint, redo hardwood floors, kitchen cabinets refaced, and of course baths need some work.

Bought 2 condos for $13,000 each cash (REO's) - painted, new carpet & appliances and rented immediately for $750/mo each.

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You would then have a $7,000 spread you can work with and possibly make.As far as choosing between rehabbing and wholesaleing it all depends on your risk factor.

Choose the one or two or ten that fit your interest and read all night.

I ended up patching both sides and painting the 'Hardie Board' on the outside a color close to the color of the brick."

Should I disclose to them before hand that I intend to sub lease it out immedietly or should I simply tell them that I have the right to sub lease at any time if I choose?

I get a lot of leads that I choose not to work because they don't fit my buying criteria, but they are probably great leads to other investors.

Although that amount won't really pose any great financial burden for us if we don't rent it out, we plan on doing so.Before choosing this particular piece of property, I did some calling around to various rental management agencies to see what the proposed rate would be in that area for a 1BR/1BA if they were to do this service for us.

Did I mention lead paint?