UGLY.horrible paint job overallno heating system. gas heater was taken out (which makes me wonder, because it's not foreclosed)I have not yet had the inspection done but I have an AWESOME inspector who will rip this place apart (figuratively) if I tell him to give me every detail to deduct from the selling price.A little about me:1. was just approved for a $15K line of credit I was going to use as a reserve to pay for updates and appliances (I want to pay most out of pocket though)2. 5K to put down.3. another property I want on the same street is 9,000, needs about 25k in repairs, but is really nice, but one family.

Always leave yourself an alternate route until you have established connections, don't get in over your head, Keep a cash reserve and you should be ok.RR

It seems that if you put down a sizable down payment and have lots of reserve money, then maybe.

We find this allows us to better tract the state of each property and the quality of work ... in one case a tenant wanted to upgrade the kitchen faucet and she paid for both the new faucet and our handyman to install it.Similar to the annual inspection indicated by Rob K, we reserve the right to inspect our properties once per quarter.

My standards are high so if they meet it just have them give their reservation/hold fee to hold it.

I have the capital for a FHA down payment a long with 11 months of reserve just in case the property sits(which it won’t).

The first thing you should be doing is funding reserves.

The dollar is rather quickly being replaced as the world reserve currency.

FYI: I do have a full time job so I am not depending on this money to live, but it is my cash reserve.

You need reserves for the "what-ifs."