Again, thank you for the valuable advice.

I am trying to build contacts in the real estate community on the investor side so that we can all help each other get deals and gain more knowledge.

If you were selling a 100 unit apartment building, would it be more valuable full or empty.

I feel like if you can buy a house, live in it, fix it and sell it two years later for a tax free gain..that's the place to start.

Yes doing the work yourself is the long way, and holding costs can eat up any savings gained by doing it yourself, let alone you can't market for buyers or new properties if you are rehabbing, but I can understand you want to know the process for future investments.Do keep us informed of your progress!

If you sell it in a few years for $130K, your gain is the net sale less the basis.

I feel like this experience is entirely repeatable and the next time around the gains will be even greater.

As a wholesaler it is important to be as accurate as possible when it comes to estimating repairs to gain trust, but with that said, you never know what extra things a rehabber might do to the house, so only estimate generally.

BTW - Gloating about oil gains is not the way to make friends in this economy.

My offer was more valuable to the seller because I had no outs.Its more risk to make an offer with no contingencies, but once you've developed the experience and confidence to do just that, it makes your offer significantly stronger and better positions you to get the deal.