Well - I actually own the same house next door and rent it out as a vacation rental. 50% of the rents definitely do not go to rental expenses..

in all my years I've never seen a lender do more than drop a dumpster, remove the debris, cut the grass, stick a lockbox on the door and put it up for sale.

An agent was holding an open house two doors down and she got a few people from our open house and that was it.

More forclosures coming in every month in that size and price range and getting financing for those babies limits the number of customers knocking on your door.

(When I say Complete, I mean new Hot Water Heaters, New Furnaces, New Roof, New Windows, New Doors, New Carpet, New Paint, New Light Fixtures, New Electrical Outlets, New Bathrooms soup to nuts, New Kitchens, etc).

Not including any aluminum wrapping around doors/windows....

After thinking about this post, I believe that I'm going to see if there is any way to rehab, even if I have 20k into the property on rehab, I will still be able to profit from it (Rent for a 3br in the area will be atleast $550) and if it has a usable garage, I could rent it out for $75/mo which would be good as well.I think I might just try to get the lot for a dollar...that could be pretty cool :)

So, in this case, even list price would be a decent deal based on this forumula.However, if you can buy the same house next door for $15K, this isn't a good deal.

Some would tell you to tailor a message for everyone, which is good, but you want to focus on problems that will push buttons.Get your message on the internet, you can write an article here and put your contact information in the signature section and market that article through pay per click and save the website cost.Last, target an area that you want to invest in and plaster fliers on every door.

I have a FHA loan lined up to purchase a property but the property I am interested in has one issue with the foundation in the garage.