If you bought a 3 bedroom ranch for example for $xx,xxx and the comps in that same area are all X% higher (you have to decide what % discount you desire), then you may have a winner.

If you do not have a genuine desire to help, it will be noticed.

The neighborhood is definitely desireable to some given its proximity to Manhattan.So why isn't my unit renting.

I don't ever do sub $100k properties so I have larger amounts into deals, but also have larger margins.Most of my acquisitions range from $200k on low end to $900k on high end with a majority in the $250k-$400k range.I don't particularly like your formula of $10k more for another 2 weeks of rehab, but if it works for you, then go with it.My advice is to know all your holding and re-sale costs so you know at what % you need to be in order to net your desired return.

You don't necessarily need to move to a less desirable and cheaper market to do it either.

More specifically, areas that are the most desirable are Boiling Springs, Roebuck and the entire east side of Spartanburg.

Subtract $9,800 for desired cash flow and you're left with $8,900 for max payment.

Personally, I don't like it, but that's just my taste. qkjones is right in that it's a eco-friendly product which makes it desirable for a good number of people but it's not as durable as other hardwood flooring products so there's a trade-off.

So, I would take the NOI and subtract your desired cash flow ($100 per unit per month) to determine the maximum payment I could make.

This is a 1938 house in a historic neighborhood in the east coast - very desirable area for a flip because properties sell quickly at good prices once renovated.