Opinions on how I get the ARV and whether I should do a serious high-end rehab (getting rid of an office moving the bathroom to where the office was so I can expand the very cramped kitchen/ dining room so they can be two separate spaces and then finishing the two rooms upstairs which are currently wood paneling.)

All plywood and solid wood and no particle board, at a good price.

I have a couple of properties in your neck of the woods (Reading) also.Terrell Hill

Breaking down the cost: Believe it or not, some sellers don't really understand the cost associated with having to rip our asbestos from walls or fixing rotting wood.

A good property manager with solid vendors is literally worth their weight in gold! 

@Charlie MacPherson Mercifully I haven’t seen this is my area but up here in the woods we’re usually the last to know about anything.I’m curious - what’s the history on these short sale properties?

Are there any markets you can drive to that have solid numbers?

I have been playing around with the numbers and I've found that using an FHA loan (which I am confident I qualify for) I can get a 4 Plex and have a really solid cash flow.

The area is stable, at least I think it is, and I'm buying in good, solid A/B neighborhoods.  

Specifically, my own investments.Would it be better to just develop a solid relationship with someone who is already a contractor, and just hire out the rehab work from now on?