Many investors have formulas which say “my goal is to buy properties at 60% of after repair fair market value.”

I'm more interested in holding out and renting out a property than I am flipping one, but if I did find one for a good enough deal and managed to get rid of it fairly quickly, what are the taxes like?

No skin off your back and you can put an offer on the house after it's listed if they don't give you the time of day beforehand.B.

Thanks Mike,We weren't planning on paying the 189K, it is WAY above fair market value.

They have been fairly easy to deal with.

Saved my skin when a tenant just moved out.

Jon I understand what you are saying about lenders wanting to see that you have skin in the game.I've only got 20k saved up.

I noticed that the link Jon gave (to the "fair market rent" tools) is not its own page under the "LANDLORD CENTER" to the left of the forums.

Now if they were in fair/poor condition, that's another thing, but if they were close to being what is normal for that area, you can not ignore them unless you want to loose money.Having said that, if you want to throw away your money, I can give you my address and you can send it here.

The online help is fairly good, too.