Occasionally a tenant will roll over in those types of centers.

Ask for a current rent roll and '12 trailer' which is the last (trailing) 12 month's income and expense broken out by month.

Over the phone he was asking for $59,000 for the property and saying all it needs is drywall and kitchen cabinets to get it rolling; and that he has already done the roof, sub floors, windows/doors, framing, electric, and plumbing.The most similar house recently sold, that I've found so far at least, was about a block down the road from it and went for $126k back in August.

The goal is to roll over profits into the next one, and do so until she either reaches her stress limit of buying/fixing/selling every two years, or were financially comfortable and in a house we love. 

I just hope your investment strategy isn't to roll the dice and hope nothing bad happens because that will bite you eventually and can derail your entire investment strategy and/or life. 

Not at that moment I wasn't -  I had some free time and so I rolled up my sleeves and did it.

To keep things rolling we decided to move into the flip house and wait until the prices came back up.  

. $40k might be enough to put money down on two deals simultaneously, just be sure you'll be able to handle the monthly payments or find a lender who can/will roll the payments to the back end of the loan, at closing (costs a little more in interest).

ADA doesn't require you to put in a roll in shower. :)

That goes back to my first point about your credit, your credit is real money that when paired with a steady paycheck will get the ball rolling for you in REI!