When I am working on purchasing I probably spend 20 or 30 hours a week sifting thorough the auction properties, driving them, comping them, and then preparing the bids.

They spend anywhere from $3,200 - $10,000+ for replacement after vandalism.

Pay off debt VS Investment spending?

In the end we spend about $23K in rehab costs and came away with a profit of around $22K. 2) We decided to purchase this property after having looked at many and putting offers on quite a few, always to come away empty.

I am willing to invest outside my region if the financials add up.I know this website is a great start and I plan on spending many hours reading and listening to podcasts, but, what other sources are there?

Jose Enage: It was a pleasure spending time with you on the phone.

I've owned a short sale fixer upper for 5 years and aside from major renovations I planned on when I bought, I've never had to spend that much for upkeep.The deal seems like it's worth the effort to me provided the typical house buying stars align.

If it was me, I would rather not spend the money until I had to, especially if I already had a paying tenant in place.

I don't mind spending the extra money if it's worth it in the long run.Thanks in advance.

Make sure you really look at the numbers before you go and spend a bunch of money furnishing these places.