Be carefull about paying for an appraisal most areas have seen a drop in property values in the last 18 months.

If you feel they will fall significantly more, then you can either wait or make an offer on a short sale or REO property that reflects where you think the market will drop to.

It certainly caused the Home Equity Line offer to drop $30,000 at a rate of prime plus 1.9% while BOA is advertising HELOC's for 7.9% today.

As mentioned, prices are dropping in many areas... you may get a better deal a few years from now!

drop me a line sometime on aim if you have it shadowxy99

Then I said; "let's go to Sears and you can buy paint and material" Needless to say I grossly overestimated how much paint the house needed, stocked up on new drop clothes and some roller covers brushes and other stuff that doesn't go bad!

And a overall 4.5% YTD drop in prices, based on the Case-Shiller index.

I think my only hope at this point is to wait/hope she drops her price, and then maybe I can get a loan for it...

Spend your free time getting 2-3 of those established while still at the day job (So you can finance the costs you mentioned with the paycheck) and once you prove you can get those revenue streams going I would seriously consider dropping the JOB since you would have already replaced that income.

The last property, pictured above, is going on the market now and the price has dropped about 10%.