How much of a discount depends on many factors but the mechanics of what you want to do is simple. 

@T Sanch It’s great that you are researching REI before jumping in.Full disclosure I love BP but I am from Fortune Builders.In my experience and from my education,we flip for cash flip for cash than buy rentals.Also you can actually spend less on the rehab if your doing a rental than trying to get top dollar from a flip.The mechanicals should be good but the finishes could be less.I just completed a rehab with a $55k PP$30k rehab that I planned to sell for 125,000.My agent suggested we list for $139 and we got an offer for $146 first day.So 21k over what I thought,how much rent would it take to make that up?

There is also a move away from rural isolated small midwest towns as jobs are increasingly concentrated in larger cities as agriculture becomes more scale-able and mechanized requiring less laborers.

Mike Wright Tom Gimer @gregH,Thanks guys.I've done some more research, it seems that my only additional exposure with title insurance in a Special Warranty Deed vs a General Warranty Deed is that the title insurance won't cover an issue that was not present at the time the title insurance is issued (e.g. a mechanic's lien that would be put on the title way after the facts).The SWD would cover it if the issue originated while under the bank's ownership (even if the lien was placed after the sale) but not if it happened during the previous owner's time.

.- One side of a duplex for sale: Seller is asking $180000- Built in 1987, currently a 2 bed 2 bath- needs cosmetic upgrades upstairs- Basement is completely unfinished with great potential- Its in an amazing/high value area - The seller is also selling the other side of the duplex more towards the spring, not on the market yet, however I would get first dibs to buy the second side according to the seller if I bought the 1st side.My potential plan - Live and Flip- Offer $155000 on it, most likely will negotiate to roughly $165,000- Finish the basement, add 2 bedrooms and 2 bathrooms in the basement with new egress windows - Update the kitchen and bathrooms upstairs- Most likely will get a 5% down payment (Primary Residence)- I plan to do all the work myself, I am currently a plumber and am very mechanically inclined. - I estimate the the entire basement to cost $30,000 to finish- $5000 upstairs to finish - With closing costs and commissions, the total capital I would need is $40,000- After all repairs are made I would rent it out after a year of primary residence and most likely buy the second side of the duplex and either do the same process again or house hack - ARV would be easily $220,000 at least when viewing comps in the area.- COC Return 7.6%- It would rent for at least $2000Problems - We only have $15000 to spare so I've been trying to come up with ways to find the extra money, I was thinking personal loans or no interest credit cards (for at least a year)- We originally wanted to make this an investment property but were surprised with the required 15% down payment so that is why we are thinking of living and flipping.Please please share as much advice as possible!

I handle the homes primary mechanical systems and structure, they handle the small stuff.

It's unfortunate to hear of his circumstance, but some people don't realize that auto mechanics, plumbers, attorneys, and surgeons, etc., are all for-profit businesses that help people in need.

Congrats, Joel.Can you tell us your background or support mechanism that provided you with confidence that "you got the financing right"?

Find an agent who knows property (not just location, but can analyze condition, mechanicals, etc)2.

Well, a good sense of humor is a defense mechanism against abuse that develops in childhood and pays dividends for the rest of your life.