Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.You might consider Niche or Specialized Housing like student housing.

Old stuff has more problems and it's tough to fix right unless without spending a ton of money.

You are in a tough market.

It's tough to find the right combo of purchase price and ARV with enough margin in between.

No special permits required.So what's the actual difference between that and making those exact same physical changes to the space and throwing a microwave the counter and storing stuff down there sleeping there?

Sorry to hear that the market is getting tough for you guys.I'm wondering if the new mortgage regulations that rolled out for first time buyers will have any effect on the process -- hopefully eliminating those in the market who don't actually have the assets to be a serious investor.

Jeff,This one is always a tough one.

Waterbury can be tough but you can still find deals there.

It's been tough going lately finding a good deal but I got one under contract today.

Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbookLocate and attend 3 different local REIA club meetings great place to meet people gather resources and info.Consider checking out HUD homes for small multi's owner occupied gets first crack.You might consider Niche or Specialized Housing like student housing or vacation rentals.