House was built in 2008 and should not need major renovations for at least another 10 years after finishing rehab.We are trying to figure out whether to rent or flip.

I think this is pretty conservative in case I run into the high turnover and major repairs which are sometimes more common in these types of rentals.I also believe buying properties at such low purchase prices allow newbies (like me) to learn and make mistakes without taking huge risks.

Section 8 has minor issues and major violations.

And major lenders likely have much deeper pockets, again making it a far better market.Given the lack of consistent platform, the large number of investors, their relatively smaller financial interest, and their lesser degree of technological sophistication, my guess is that this idea is not viable at this time as a separate company.

Depending on the details of each house, interest on the PM will be anywhere from 8-12%.I recently started a business that requires a majority of may attention during the day.

What I found is that the majority of the properties didn't really look too bad or the properties have fixed the minor issues that they did have.

Hi Josiah,Ricks point about repeating the formula is a good one.I'm a contractor and work with a number of investors on rehabs and major upgrades.

You will be in the property between $5k and maybe $6,500 more than what you wanted to pay.If that is not a major consideration for you guys, then accept the best deal you can get and go forward.

I recently started a business that requires a majority of may attention during the day.

I don't even look at properties on major roads or service drive.