Well your example as a $200,000 house and they're selling it for 120 which is $.60 on the dollar, if you were 20 grand down, refied it .80 on the dollarYou walking with some money arent you?

There are many plans you can buy on the internet and save a couple grand.

Been doing it 14 years and have 16 houses with only a couple hundred grand debt total. 

I personally invest in Michigan, I own properties in Grand Rapids, Kalamazoo, and Metro Detroit. 

That said I would not plan to do any work yourself in the grand scheme but if you have the right contractor you may be able to work with him to help shave your budget. 3.

I just picked up a property in Grand Boulevard so yes there is much potential in that market.

Grand Welcome...a great local Property Manager.

Buy, Renovate....it is a capital intensive strategy, that those with a few hundred grand liquid can implement.

It works in lower income because your not buying them at 100 + grand .

Or tied to squeeze an extra 10 grand out a rehabber.