In Raleigh we had quite a run in 2003 where we would buy a "lightly worn" property ($63K), fix it up to retail condition to minimize maintenance ($14K), rent it ($900/month), then refinance it with a new mortgage ($77K.)

Its the easiest way to minimize your risk in a transaction.

At the time, it needed minimal amount of work(some paint, clean-up, there was a few tiles missing in the bathroom, but he had it).

If they put up earnest money (which I would recommend not doing or putting down a minimal amount) then you would get it back IF you specified that in your contract (which I would recommend specifying it that way if you do put up earnest money).

Take $3k for the 2nd, 6% for commissions, and minimal closing costs, and you're passing their "max".

You should also pay down the mortgage at least a year before sale to minimize any potential taxes.

If it's more than just a minimal job, then I'd move on to the next contractor.

Hello,Well I wanted to try to minimize our (my brother and I) situation in the subject area.

My point was not about avoiding risk but minimizing it.

His accomplishment in attaining the Presidency of the United States by a winning the poular election and becoming the first black president cannot be minimized, yet with the exception of his speech to the NAACP, where he proclaimed that "Having a Black President means there are no more excuses," he has repeatedly downplayed and not addressed issues of race with the exeption of totally screwing up the Professor Gates debacle.IMO, he has the greatest opportunity ever, without a single tax and spend dollar, to realize MLK's ""I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin, but by the content of their character."