All of the homes from what I can tell which are foreclosed on in this area require 10-15K of rehab to make them retail quality.

You may want to be conservative though with repairs and add 1-3k clean up costs unless your positive its in perfect shape.

If you pay a quality lawyer for your paperwork and are a diligent professional in setting up procedures and systems for doing business, then you can mitigate a lot of this risk yourself.General liability insurance: This helps cover the LLC if someone slips and cracks their head open on the sidewalk, gets hurt at work, etc.

I'd rather burn my houses down than to rent to any of the Section 8 applicants who have applied to rent from me.But maybe your Section 8 tenants are a better quality than the welfare cheats and dopers that we have around here.

I use words like "clean" "good" "needs replacing" etc...

I want it because it may clean up and zoning it to commercial will be a breeze in the area it is in.

Not too far off from Phelps (and a lot of them are much smaller).However, I was amazed at the quality of the food he was quoted as eating.

How can I clean it?

This is how you’re able to prove to the asset managers that you are really working to put quality work out there.

We keep the property in great shape (lawn mowed, gutters cleaned, no junk cars or tipped over trash cans).