I assume you can roll paint, so while you have these contractors lined up, as them what the cost would be, see what paint costs along with your materials and consider your time, doing this may save you some money on small things you might do yourself, but you can present the bids and the appraisal to base your offer on.You also need to explain that an appraisal is an estimate, not a true value and that you need to make a reasonable profit if you are in the business and justify your offer.Saying older lady doesn't mean much, if she is elderly I suggest you take some additional steps after you get a contract and that is to involve some center of influence, her kids, her attorney or someone who may advise her.

Two ongoing right now and hoping to build at least 2 houses beyond that this year.I'm always open to floating labor and materials for equity on projects or for appealing new construction opportunities.

Are the utilities all split?

They include utilities cable and internet.

This is if you decide to utilize a second on your home to remove PMI.

After graduating from college a year ago I've been learning the ropes of real estate investing through this site, through various books (Rich Dad Poor Dad series especially) and some freelance work.As good as the books and online material out there are, I'm looking to work for an investor so I can learn the nitty gritty of the business and get started investing myself.

I would recommend to utilize a 5% down conventional loan on the primary home since conventional financing has the least effective cost as the mortgage insurance is not as high.

I want 20% for profit so divide 88%/1.2 to get 73.33%.I assume a possible 6 month buy, fix, and sell time and so estimate property taxes, insurance, and utilities for the period.

That may be an excuse utilized in Pottstown... still raising taxes can't be the only answer nor the first one to reach for either.Kudos,Mary

To remember the expenses -here's a good acronym: TIMMUR (taxes, insurance, management, maintenance, utilities and repairs,For a 100-year old plus building like yours, I would factor in 10% for management, 10% cumulatively for maintenance and repairs and another 10% for vacancy.