Every time a project comes up for us in San Jose, our entire engineering team says no, flat out.

Yes, there are private money lenders who are just looking for flat returns on there money, usually 7-12% annualized, always try to push for differed interest payments and balloon principal and interest once sold.

We handle anything from interior systems (Insulation, Drywall,Taping,Texture & Paint) as well as exterior systems (Roofing Shingles, Flat Torch on Roofing, Siding and Stucco).My ultimate goal is to accumulate multiple real estate properties and of course the wealth and freedom that comes with it.

I'm experienced with buying residential properties and working with lenders but I'm looking at a 6 flat in Illinois and want to make an offer.

BTW as FSBO you will 99.9% have to pay 3% buyers agent and depending on the area and offer 3% (+/-) closing costs contribution to the buyer,  or 6% vs 9% listing with an agent with a prospect of getting higher offer and net to you higher in your pocket.BUT as an experienced investor I would pay $500 (+/-) flat rate MLS listing fee and let MLS push out to all those sites (BTW). 

Raleigh's (RTP) property prices have gone up whilst rents have remained flat.

@Jake Cowley I would suggest going over “terms”, ie color of paint, type of paint, finish (flat, satin, gloss, etc).

A flat fee?

I would change that to a max of 8%.Your repair costs could potentially be reduced to a flat $100/mo depending upon the age of appliances, floors, etc. 

@Paul GiblinIf you want to minimize your risk you should consider a 3-4 unit because your monthly cash flow will be greater than a SFH.If you buy right you can have 1 unit's rent almost cover PITI which eases my mind especially in these difficult times.Couple a 3-4 unit with section 8 vouchers and you are really cooking with heat as HUD pays rent directly into your bank account on the 1st of every month which also reduces your risk.For example I manage a 3 flat on West side and PITI with h20 and electric of $1400 a month that pulls in n $1328 and $1330 completely paid by HUD, and then another unit which pays $1325 totally paid for by SSI, so basically rent is guaranteed unless US government stops paying which inho is highly unlikely.If you add up all 3 rents it is $3983-$1400 PITI minus expenses (not including repairs capex or vacancy) there is still $2583 for cash flow minus repairs, capex and vacancy which I UW as 5% each for repairs and capex and+10% for vacancy which leaves $2066 for cf each month.I can sleep at night knowing that as long as I am competent enough to at least have one unit rented I can basically cover my monthly PITI.This strategy might not work for everyone but it works for me.Bottom line-you need to find out what niche you are comfortable with now and then take action.Your strategy may change with experience and time, but it is important to get started.Hope that helps.