If you take a look at my posts from November 26, 2010 (House #19, Budget Recap) and September 27, 2012 (House #35, Budget Recap), those will give you a decent idea of how I broke down the budget on two properties that started as shells (you can look at the pictures for those houses to see what they looked like before and after to see the amount of work and finish level).Please don't rely on any of my pricing -- costs will vary by location, type of house, contractors, time of year, level of finish, and a thousand other variables -- but those two resources above can give you an idea of how to approach a big rehab and how to break down the renovation into components.

More importantly, I made a plan for paying it off within two years, and am on track to exceed my expectations.My goals in regard to RE, are going to be using that time until the debt is paid off to best educate myself as everyone suggests, then to build enough of a cushion for expenses of purchasing and down payment, as well as emergency funds.I definitely understand how easy it is to let confidence become arrogance, and thus, leading yourself to ruin.

For example:Building up a following on Facebook or TwitterSpending thousands of dollars on a company logo, business card, letter head & a pretty websiteBuying books and courses on how to improve your businessSpending hours at networking events that don't lead to any tangible results, etc.These things may have value on some level - but there isn't a direct correlation to the money we make.

In the situation where I really needed to sell, I would also go with the offeror who is more organized even if the less organized person is offering a few thousand more.

I've learned a lot about business from this site.I did a few classes at a few thousand.

He has accumulated well over a thousand $ in lenses, maybe more – I do not know exactly, as this is not my world.

Can the management company be changed out for positive results, etc.There are many many ways in which a rookie mistake could ruin you for a long time.

Buyers usually offer thousand of dollars less than the asking price when looking at a short sale purchase.

A couple of hundred dollars to get some knowledge in the matter is a lot cheaper than thousands in fines and/or jail time because one took the advice of "armchair lawyers".

True, but for higher value properties, I don;t want to tie up Hundreds of thousands for 14 or 21 or 30 days, so a large EMD is more than sufficient.