I have no prior real estate experience except flipping a few books and 3 day seminar.

The prior owners had the property forever and it was assessed at a total of $150,000, $50,000 towards land, and $100,000 towards improvements.

Hi guys, I'd like to consider myself a "creative real estate investor" especially since I have no prior experience in real estate, no significant amount of capital to investment directly into a real estate property, but I DO have an insatiable desire to invest in real estate.

It's not a raise, it's a cost of living increase meaning the same wage you've always had, adjusted for inflation.So I would have to agree as well that let's assume hyper inflation kicked in and out dollar was worth half as much meaning $1,000/month rent becomes $2,000/month rent and someone making $50,000/year now makes $100,000/year while at the same time out mortgage was locked in prior to all of this.

When doing the background research on potential properties has prior to making offers, how do you go about vetting the property enough to have the confidence to establish an asking price on the home??

My first thought is that the exit strategy and rehab strategy should have idealy been understood prior to you purchasing the home.

I guess you could ask the seller to inform the new tenants that they should instead go through your own application process as opposed to getting them in there on May 30th prior to closing.

I plan on having a RE Attorney either draft or review the Lender's agreement prior to signing.

This was prior to the new laws, but they weren't following the laws then either.Your sale price is below the minimum loan amount taken in the secondary market.

It went through 2 prior major additions, including one in 2004 that was never quite fully completed.