Not that i dont have one but there is a HUGE room for improvement on that.

Here is the list of problems: The front door barely opens, NONE of the doors close correctly, garage door has been replaced but the electrical still needs tackled, no doorbell, no fire alarms or carbon monoxide alarm, no working outside lights, a severe mice infestation (who have now raided my brand new couch), no insulation in the mudroom which is allowing cold air into the house and raising my heating (propane!)

Maybe a buy and hold.Wish I could help more but the foreclosure listings just keep getting more sparse in my area and I don't see anything improving in terms of finding potential properties any time soon.

It could be a good deal if you expect that kind of equity or future appreciation and it is a good and improving neighborhood.

I hope to purchase a multifamily in Reading or Easton PA outright, improve it, and use the income to pay off my student loans more quickly.  

It’s available for college tuition, for home improvement, for paying down a mortgage…Investors gain access to solid, appreciating homes –without tenants or management costs.

Never stop improving!

Don't leave income on the table just because you will be taxed on it.3) Most real estate expenses are deductible in the year you pay them, especially if the benefit is immediate (like a utility payment or property tax).4) Some expenses are prorated through the life of the improvement, such as depreciable buildings and roof repairs.

Closing costs and holding costs will devour the rehabber's gross profit.And a rehabber is going to demand title insurance before sinking $50k in improvements into this thing.I recommend you move on to the next one!

In low/no appreciation markets, you want higher cash on cash returns that will offset the lack of appreciation and so you can at least exit the market in 7-10 years if you need to without losing money or you will have been able to save some of the cash flow to make capital improvements and continue to hold the property.Also, you want to buy at a discount so that much of the equity margin you need to avoid selling costs eating up all your aggregate cash flows is captured at purchase (and perhaps some significant gain above that).