property needs some repairs, it will take about $20K to bring it to a normal condition.

However, I have read some 'experts' that say unless you practice with your semi on a regular basis you are better off with the simplicity of a wheel gun.AdrianG: after you spend some time reading the many useful posts all over this site, you will see that some of us rent to low-income tenants where we are actively involved in cash rent collections, delivering eviction notices, chasing drug dealers and other undesirables off property, doing repairs at odd hours, etc.

So it should be relatively safe to say that a property will sell for approximately 70% of it's after-repaired market value, or more - right (unless the lender buys it back, of course)?

If its truly worth $260, meaning, there have been sales of comparable properties at $260K in the last 90 days, then it would be worth $182K, less any repairs, to an investor

It was one without any repairs.

TO me it seems that major repair/replacement is the most important: 1) water heater/plumbing2) HVAC3)Roofing4)Electrical5)foundation(I'm in Texas, terrible foundation problems)Does that sound about right to you?

I'm going to meet with the seller today and look at their houses (I'm looking at 3 houses... 1 of those has 2 lots... they inherited them all) and if there are no repair surprises, I should be getting contracts today.

Obviuosly the higher the better but I didn't know if a certain amount of positive cash flow should be met to cover repairs, etc.

Bring some people with you to do the estimating of repairs, so you will know what you are looking at!

I just crunched the numbers and they seem to jive...How old is this property, what repairs are going to need to be made, and have you had any inspections performed on the property yet?