I purchase fire damaged homes and have been doing 4 to 5 deals a year for the past 3 years.

The insurance adjuster wrote an estimate and then sent me a check although I told the adjuster I had not agreed with the amount of the damage due to the house water damage.

Pros = Lots of college students, always able to find renters, may bring in higher rent.Cons = Lots of college students, will have constant turn over, could cause more damage and be disruptive.

A two story house with the same foot print is not going to be worth double the value of a ranch.Lot size generally has little effect on price, in my experience.Condition and finishes make a big difference, too.

We also have a little higher turn around rate (a double edged sword) but we believe this allows us to better keep pace with the market, minimizes potential for damage, and demands that we be efficient in our management (a good discipline for the future).Any more thoughts?

If a tenant does a lot of damage or you have several months of vacancy it comes out of your pocket and your name, not your fathers.

Apply the security deposit to whatever is damaged.

Since Mobile homes are cheaper, I thought I'd start by reading up and researching on buying one and flip for a Lonnie deal.It seems there's a new law that's in effect starting January 2014 and it seems the owner financing on mobile home flips are no longer allowed unless one uses a 3rd party lending company?

The existing cabinets are soaked with mouse urine, in which case, there is no way to get rid of the smell.I can repair an amazing amount of damage with Elmer's wood putty.

The houses were so badly damaged they were nothing but teardowns.