Bank didn't do a real appraisal but their program had it at $85,900 so I can pull another $10k back out of it pretty easy.

It allows you to type in the property particulars and it will help you and potential buyers evaluate the property but more importantly, it will pull the data together into a very nice-looking, professional package.

With 11 months rent (and I am guessing $1,500 in expenses) his ROI for the 11 months it rented was 15% (these #'s are just esimtates, I have exact #'s on my Property Management software that I could pull if you like).

I guess the question is more general in nature at this point.

The way it works Sharad as the case worker explained to me is this:From the time of application SSI is running behind about 2 years.She applied a year ago but since she is facing eviction they do an emergency advancement and flag the file.This is where it is at now.Then when they pull the file it is sent to the judge for a review.The judge looks at hundreds of pages for the one file.The decision takes 2 to 4 weeks.Then after that if approved a second division of SSI handles payment.The case worker said in Georgia alone SSI has over 100,000 cases to process!

After vacuum testing the ball never gets pulled.

I do understand that you don't have a 50k cap if your funding the project in full but it also has to be passive in nature.

I think in many scenarios it is human nature to postpone big ticket items to maximize cash flow and when the property is sold - those big ticket issues are sold as well.So deferred maintenance is something I would look very closely at.Chris

Donald would pull off his toupee and thoroughly flog you if you attempted that.

Here are the details of a deal I just completed. It was a rehab for fix & flip, but ended up not selling for the price I wanted.

Purchase price: $65,000
Repairs: $32,000 (out of pocket due to Fannie 120% clause)...