Outwardly I didn't see any major issues, but I thought if a house is 203K or cash only, normally there is something fairly major wrong with it to where it won't qualify for a standard mortgage.I asked the agent about it, and he just said something generic about the 203K loan helping to pay for repairs, and that in this case he thought it was just for replacing the carpet.

Can anyone recommend a good, fairly priced management company in the greater-Phoenix area?

Hi I started a new s corp to buy fix and sell houses mainly in san diego californiaI started my first project as a corporation with a licensed contractor with worksmens comp, it was more expensive than when i was doing it as owner/builder with a bunch of subsAnyway the project was finished and sold but I need to finish a request for repairs in order to finalize the transaction.

LOLIn all fairness, this one is on me.

I have a friend that inherited a bunch of land in my town which was later developed into a Dicks Sporting Goods, Khols, Target, Olive Garden, TGIF, Chillis, Verizon, GameStop, etc. the list goes on...

I've read a bunch of the blogs and forums here, and I feel like my eyes have finally opened!

Also, because you are fairly new with limited experience, I would focus on purchasing SFR instead of building specs.

BP is a great place but also read a bunch of books that people here recommend as well.

It contains a bunch of assumptions, most of which aren't valid in your example.

Now at your 120K you're up at about a 13% return and that I think is in keeping with what you should be looking for in the given area you described.I didn't account for the garage because I wasn't as sure of it's viability as an income stream, in my area homes that have garages rent with the garage, and the base rental rate is usually fairly close with and without the garage.