Factor in commissions, closing costs, buyer subsidies and any repairs requested after buyer inspection, not to mention the ongoing taxes and mortgage interest payments if any.

Would there be enough margin (and enough ongoing appreciation) to make you do it again if you could get in at $80KJ Scott If I'm remembering correctly, you'll be in all-in at a comparable price as Aaron for your ATL downtown lot.

Again, thanks for your support and I will definitely share my ongoing experience here with you guys.

Typically people at least try to get back initial investment plus some and then have the income from the loan ongoing and buy another property again.You need to know foreclosure timelines in your state and how long to get back a property in case of owner default.

Let's assume for a minute that there are comps, that makes valuing easier, use those taking a significant discount to account for your buyer having to get rid of a bunch of poorly trained tenants.If it's rent based that will be more difficult. it might be worth 100K performing but someone has to get it there so they rightfully are going to need to be compensated for that effort.One thing that may sweeten the deal for a buyer to be willing to pay a little more, is see if he would offer owner financing.

It's in a developing area near a train station, park, waterfront, and sports arenas.

Keep on going!

As someone who's put down 20k on one of those guru training programs(The usefuleness is debatable since it did propel me into action), I can tell you that there's nothing that digging up some willpower, sitting down and doing some self studies through BP, and spending $100 on real estate books and attending REIA meetings and building relationships with investors/brokers/power team members in your market can't teach you.I'd discourage starting off your RE investing career by taking the easy route and trying to get the lessons handed to you when hard work and experience is really the best mentor you can have.It's been said many time, but if you are able to find a good deal, there will be more than enough people/firms willing to fund it.

You say the empty house is a burden to other residents...but how does holding his belongings hostage and keeping an ongoing battle with this hostile person benefit the residents??

I'm gettin' on-board the "straight talk train."