Sometimes I've seen smaller and sometimes I've seen them drop by 20K!

Some use a rule of thumb saying that if rates drop by 1% you can afford to refi.Better is to do the math.

Personally, I *hate* carpet in rentals... hate cleaning it, double hate replacing it-- so we get rid of it asap in all our units-- ceramic tile if the rents will support it, refinish hardwoods if they're hiding underneath old carpet, sometimes even laminate (not the cheapest stuff... doesn't hold up to water).

Doesn't sound too good EXCEPT the old house sits on a 1.3 acre lot where zoning is for .25 acre lots if connected to public water and sewer.

One place that we looked at had dropped from the low $300Ks to the high $200Ks.

Will tenant pay for all utilities, including water/sewer?

Use your GC bids and materials spreadsheet as ammunition for getting the lender to drop their asking price.Obviously these tasks take time and effort, but once you have done it a couple of times it becomes much easier and faster.Good luck!

I promise to search for as much info before I drop the daily dummie, but sometimes I'll probably just not know what to even search for.Looking forward to spending a lot of time here and hopefully becoming a valued contributor.

Pringle said her oldest son, Anthony, 20, dropped out of college as a result of the family's financial problems and joined the military.

I like all the answers, but like taking a swim in the water, you have to know what market you are in.