Thanks in advance, Henry  If you stick to the bigger names / more established brands in the industry you will be more likely avoid things like false advertising.Super important to note that real estate is a people business though.

This has allowed us to get rid of PMI and utilize a HELOC for any future investment purchases in the future.My best advice for you would be to find a local real estate agent who is familiar with what you're trying to accomplish, a lender who can offer renovation financing (and navigate it smoothly, as sometimes they can be more complex), and a contractor who will be able to take on this type of project with the bank.Best of luck!

I do work in the roofing industry and know a ton of roofing contractors which if you need a recommendation for some I have several. 

$250K ARV - $140 Purchase - $25K Rehab = $85k - $15k Commissions = $70KCarrying costs, utilities, taxes etc will lessen your profit, but it fits the (70% of ARV - Repairs) formula in terms of purchase price.Can you get it for less that $140k?

While there will always be distressed houses, motivated sellers, foreclosures, HUD homes, and even discounted retail homes, you have to watch the trends and learn how to utilize the opportunities at hand.

I will utilize your recipe to the T and will read that post you provided shortly.Todd Dexheimer: I've read around 15 books on RE in the last couple of months during my free time.  

Hayward feels more like an industrial area and does not have many areas where you would take a leisurely stroll.All that being said, although I do own a rental property in Walnut Creek and mostly invest in Sacramento, if I were to invest in the East Bay today I would pick Hayward or Pleasant Hill when considering ROI.

The ADA defines an “employer” as any person who is: Engaged in an industry affecting commerce;Employs 15 or more full-time employees each work day;For at least 20 or more calendar weeks in the year.

In other words when you switch utilities to your name once you have possession.

Revisiting this... after inspections by plumber, foundation, and AC (not a general inspector) and winning the fight to get utilities turned on, I've come up with $25k of repairs/replacements.