Such is basically eye wash guys.Just look to a stadard RE contract in the default provisions.

Usually the most effective treatment that will kill them and their eggs is heat...then the question is what can you and can't you heat treat.

I'd say the first thing to do is to get real comfy with the basics and the math (which maybe you are already.)

Not familiar with that area, but the BASIC #'s look good.

Basically buy a property below value with an FHA 203.k 3.5% down, after repairs are done, hopefully have enough equity to cash out refi up to 80% and then potentially HELOC up to 90% on that one as well.So, I would essentially have two OO financed properties that I've cashed out "free" equity that I've generated.

In the heartland, rent yields are so high on the types of properties that Matt describes that you can easily structure the buyer's LC payment to be quite a bit less than the rent would be, even with a sales price that is 50-100% more than you just recently spent to acquire the property, with a rate of 9-10%, and with a fully amortizing 10-15 year note.Most folks that do this that I'm aware of do little or no work to the property beyond very basic habitability standard, they are sold as moderate fixer-uppers to folks that have the skills or connections to make the necessary repairs and updates.

I would agree with J's assessment and pay close attention to the items he showed that you missed - demo, finish carpentry, rough plumbing/ electrical, etc.The other thing to make sure of is the major items - HVAC, roof, electrical panel, foundation, etc. loos like you are wanting to do a new HVAC system so J was correct that your entire combo price for heat and cool would be around $4k which you estimated higher.Time to get that offer in!

A buyer could set the basic terms in an offer, interest rate, amount, amortization and loan term, anything could be offered.

This one will be a buy and hold in Memphis, TN.Numbers look like this:Purchase price $122kConventional 20% down and financing 80%MAIN HOME: 4 Bedrooms, 3 Full Baths, Living Rm, Dining Rm, Hardwood Floors (Currently rented for $ 1,300 per month - Current tenant for nearly 2 years)Updated Electrical WiringNew Heat and Air ConditioningNew Exterior Paint New Interior Paint Refinished Hardwood Floors Remodeled Master Bathroom (12" Tile)New flooring in kitchen and diningNew Light Fixtures throughoutNew Doorknobs throughoutNew Blinds throughout Large Updated KitchenAPARTMENT 1: 2 Bedrooms, 1 Bath, Full Eat-in Kitchen, Large Living Room (Currently Rented at discount for $ 725 per month to same tenant in 1 Bed Apt (Typically rents $ 785/ mo).

Given that, I'm guessing that you're not going to get the information you need in this thread (unless you know all the basics already).