I can barely pay for my tuition and rent so I just thought this may be a good outlet to look into for extra cash.

@Shay Nir I use a licensed GC for this type of stuff (except the video walk through stuff - the guy has a flip phone and barely texts!

Then compare the neighborhood and what is the market for what types of units-how much more rent can I get doing the bare minimum just to bring the unit to market at turnover; or how much can I raise the rent, and when is renewal time for current leases and tenants.

When he moved, i was left with bare tree trunks and 1/3 acre of red mud .

The other two included looking at recent comparable sales and taking a "cost" approach of what it would cost to build the same house today on bare land.

One investor may have success with a pink postcard with a picture, while another has better results with an orange postcard and no picture.

You would need a bare minimum 4K/month rent on this property to even consider this a reasonable rental income property investment.

This is why you don't want to put any wooden structure, like a shed, on the bare ground.

Btw, here is an interior gut rehab (half the house to the studs, the other half to bare drywall, all new mechanicals, fixtures, etc) that we just finished...final cost was just under $36K for the 4/2 1400 sq ft house: http://www.reistartup.com/house-pics/the-second-chance-house-staging-pics Here are the demo pictures to give an idea of the work that was done: http://www.reistartup.com/house-pics/the-second-chance-house-demo-day-1 This didn't include new plumbing or a new furnace, but that would have added $3500 and $1500, respectively.

If you’re barely breaking even every month you’ll feel like a chump sleeping in your own house having created a new job for yourself that Costs you money!