I did my calculations, and to do a really nice job on the house, I am looking at 12-15k done in 30 days or less. here is the catch, after doing some research on this REO, I had spoke with the neighbors and they had mentioned that the area had just 8months ago be re-zoned and classified as a flood zone.

As we were catching up I shared with him my interest in RE and he told me about his current properties.

The catch is where the fire damage stops, and how far the city may make us go in repairs.

I know I catch a lot of heat on here for this but the difference between a 3k check and a 20k check is who you sell it to.

As a new investor, I am trying to learn as much as I can and trying to catch up on the lingo for real estate investing.

However, only if something outside my control prevents me from providing the premises.If not, what would their damages be should your house catch on fire and then you not be able to return those monies?

That seems like a cost effective way to go; however, what's the catch?

You have to catch a contractor on a day of weak ness between bigger jobs where cash is lean.

Once in a while the paralegal catches something I missed and that is very worth while.

I knew my numbers were more disappointing than I assumed, so good catch on the water!