I don't know if either one of those issues will be a problem when trying to resell this home.

Buy a deal that you intend to resell and use the profits from it to pay down the debt more quickly.

On the bright side, if you can buy REALLY cheap in May/June, you should still be able to make money reselling.

A written statement from the lender that they know I am reselling the property for profit.

At an ARV of 225, you should be paying no more than 157 minus the cost of any repairs.If you plan to make money reselling the property you need to be leaving yourself at least a 30% margin.

That buffers in somewhere in the neighborhood of 15% of the ARV in profit depending on your financing and how long you take to fix it and resell it.Now in determining a good purchase price for your own personal residence, you would probably factor in other personal preferences that may change the value of the home for YOU.

Also, since you can not assign a contract on bank owned properties or short sales (most banks disallow this), then you must either come with cash to close, double close (if your end buyer is all cash or lender approved), or close with your own financing, then re-sell.

Plenty of coast to choose from and also some good deal (pretty commercial if you want to re-sell) if you need more specific info just ask!

An influx of REO's (Real Estate Owned - foreclosed houses that banks are reselling) can drastically decrease housing prices in an area.Now if these factors are not what is desired, the key is to adjust your expected sell price.Price overcomes all objections.Even in some of the worst markets in the country, houses are still selling.

Rehabbers: How do you locate properties to buy, rehab, and then either resell for immediate profit or rent out, lease-to-own, etc.