College is more than just accumulating enough credit to earn a degree.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookTo fin d out about an area go to IREM.org search for ARM certified property managers.

@Jeff S. 50/50 is a good estimate I think, but it kind of depends.  

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookDownload BP’s newest book here some good due diligence in Chapter 10.

.$200/month pad rent4 owner occupied pads rented @$2004 long term RV pads rented @$200 (these people are living there)2 park homes-need renovated.water is well. checked out good2 skeptics have been checked (I will check again during DD)I estimate value at 8x200x12x.5/.12=$80,000   (asking price $120,000)no value for the park homesQuestion is do I value the RV income the same as the mobiles? 

How do I evaluate the property for repairs, when would I contact a hard money lender, how much time should I estimate for the rehab?

I was just curious if people in a similar situation when they started, started with wholesaling, finding subject to deals, etc. until they accumulated wither enough cash to make a purchase or got past the 7 year period until they could get financing.  

After estimating maintenance expenses, If I purchase the single family, condo, or co-op It'll take me 8-9 months to save another 10k, which then can be used for the next property.

Using the estimated 50% rule, I will profit $250 a month.