More and more friends tell me that they are coming to town to see a concert (especially true since T-Mobile Arena started operating).  

I think that you're expecting them to do their job?

Originally posted by @Peter T.

Pulling an owners permits you can expect to be in the $175 to $200 per sq foot range. 

Motivated sellers are expecting their property to be sold, fairly quickly, and in as-is condition.

I would recommend never paying 100% upfront since you have no recourse or leverage in case things aren’t done as expected.

Bottom line, be sure when you analyze the properties in Auburn you are not just considering cash flow, but also the resale value (assuming depreciation) after your holding period, and expect high maintenance/ CapEx expenses to include covering the costs of heat for the tenants (as many can't afford $100+ swings in monthly expenses, so you are better off paying for it yourself and keeping the rent coming in). 

We were expecting the house to sell for about $235K. 

The pros and cons, what would be expected of me and of him? 

My property is in Northern VA and i would like to ask the community what I should expect.