Done right- promising upcoming hood, bldg that needs some TLC, and you take a smaller unit, you can live pretty cheaply.

While the VA Loan option may look promising, the Appraisal Standards are only one challenge!

There are investors that think like me, and I like working with them.There are investor that "use" agent and write a million offers promising to get 5% blah blah blah... yeah, they put 15 with me and 95 with other agents, and they will get one...while it may not be my offer. 70%AVR- repair is all good, but you have to consider competition.

All in all i think there is a lot of urban renewal going on....and I think good investors can bring a lot of promise.

If you sign a contract with a lawn service company and promise them all of your properties they will do it for cheap.

If you take this seriously and do your due diligence, I can promise you that you will get to your goal.

Broken promises/being unable to deliver on what's promised seems to be where entirely too many people in this industry fall short.

The remote water heater that Terry mentioned sounds promising if you have access to a company near you that has them.If not...

I promise Florida will still be here, it will still have condos, and we Floridians will still be looking for Michigan Pharmacists to sell them to.

Originally posted by Fake Guy: Ellie, How does recaptured depreciation work in this scenario (5 years tenant occupied): Purchase price $600k Rehab: $100k Sale price $800k Gain: $100K I switched accountants, I believe my old accountant did not depreciate the property at all since it has been rented.