The property needs minor repairs say about 15k, it needs HVAC, inside paint and some siding repair.

Thanks for the quick tips everybody!

I'm estimating $3000 for some carpet and paint to spruce up the place.

Wash it, treat it, prime it with oil based primer, paint.

Greater Houston is a great place for real estate investments given the deflated prices compared to other US markets & the impressive population growth.Here are a few tips in this market:- lack of zoning makes knowledge of subdivisions(neighborhoods) VERY important; so know your numbers by subdivisions, i.e DOM, avg sales & rental price per sqft etc- market in Houston below $150k is overpopulated right now- too many people & too many transactions- so don't be fooled by recent sales data since they may be inflated; true value of SF investment properties should be driven by cap rates; SF rental market in Houston in north of 10% cap rateLet us know if we can assist on any way- we provide data to help investors find their own off-market deals.

I also have taken classes offered by our local rental association, including a class that allowed me to become certified for lead-based paint testing and removal.3.

@Ed WoodThe article paints with a broad brush and draws conclusions that don't apply everywhere.In one county that I deal in, the number of foreclosures at the LAST sale was the most in history!

@Dave Savage advice was good.I would also like to add a few tips on getting started.Find a meet-up or real estate clubs and introduce yourself, network.

purchase price 30k 25% down @ 5% 30 fix 3 plus one SFH built in 1954 new roof, ac, windows, ktichen cabs, counters 1000sq ft Corner Lot 9000+ sqft 700 garage/steel building shop..ran test ad for this alone seems $180 House rents at 750 to 850...I ran test ads plus reserched Market-PMs Section 8 is around $900 Needs $3000k carpet,paint, vinyl, misc use home depot cheap stuff Wells Fargo Appraised $44, 500 arv I have team for maintenance and pm if needed.

They still have about a week to go with paint, and finishing materials like toilets, vanities, faucets, etc. to finish.