We are still waiting to hear back from Fannie but it sounds as if they will only offer 70-75% ltv after analyzing our market.

There's no "right" or "wrong" answer to this and I'm glad to hear of Jonathan's story because it sounds like it has potential and he liked school and it doesn't sound like he's coping like the others.To me, I found some of the worst people ever at college, and I went to a fairly big one here in Florida.

A lot of people give up at that stage but if you track down the owners, you may be the first person to approach them because it takes additional work.

@Regina Joners you should only need the hand money to make the initial offer. it sounds like to me you have the purchase and rehab finding in place.

Hi Nicole, sounds like a great opportunity. 

But if you have the money and a good plumber, it sounds reasonable.

So it sounds like it is one of those things that isn't nearly as expensive as people assume it would be , and it scares away potential buyers.

In Austin, we have areas where there is alot of clay which is expands and contracts depending upon the weather (rain or sun mostly) as weird as that sounds.

Yeah, Sounds like a plan @Bryan Pham

The selling market doesn't seem to be too strong in this neighborhood; this one has been listed for 60 days and other similar properties have been on the market a while.Craigslist rents validate my range of rent assumptions between 600-700.It sounds like the general consensus is this is not a home run deal at this price due to likely roof and HVAC costs.Any more feedback from others would be greatly appreciated!