(about 70K total in IRS/Child)The House:- 2/1B in North Tacoma, tax assessed $190K, on sale for $150K but i will negotiate at least $125K to make it a 65LTV so an investor will look at this.PROBLEM:1.

How can you, as an investor in Michigan, depend on a long term tenant/rental agreement to cover any of your costs when you are losing assessment value at the same time?

The house is assessed at $110,000 for 2010.

Honest assessments of the repair work needed...

The problem is that the newer refrigerant (R-410) is not compatible with an R-22 coil.

also, i have a feeling your time here at BP will be shortlived if u respond in such a boorish tone. you state this is your first deal. we need the facts to assist in detemining your fee. how can we assess a fee for an unknown service?

Liability is a non emotional assessment of who will bear the financial burden of the losses you incurred.

Yes, the hoa's funds do come from dues, and the hoa can, and will, approve an emergency assessment on everyone to provide those funds.

Hey Eric welcome aboard from me as well...dude,,, you should try wholesaling houses first before you get into buying and fixing..it will give you so much of a better view when it comes to learning property values and how cheap you really can get a property..Plus you will learn how to negotiate with motivated sellers and learn how to assess different repairs...low risk way to get involved in the real estate gameits what I do :)

I invested $100K in my first flip, and spent pretty much every day on the job managing contractors and figuring out how to schedule, how to assess issues, how to assess costs, etc.I can't imagine doing a first flip without being at the property almost full-time...at least not if you want to eventually do a lot of flips.It's now 16 months later, and I'm on my 16th flip.