James:Yes, I'm sure area and rents will figure into the equation as well ... and bad spots in Detroit may be a little tougher than our bad spots.   

However, a part of the bathroom was saved, and was added to the rebuilt home (around 93').The owner has a two RV lots (in OK shape) and a MH in the back in bad shape. 

I was definitely hoping to find lenders that don't really require a credit check since I'm in the middle of repairing mine.There are lenders out there who would loan to you without a credit check, or even bad credit. 

Dave Ramsay is a brilliant guy, but contrary to Dave's way of thinking, all debt is not bad. 

I look at debt as good and bad.  

If you can wholesale much better. most like if in bad condition low ball the hell outta guy.. if hes a bad landlord or just plain lazy he would sell unless he has sentimental values.

I got into a bad deal a number of years ago that put me in a whole, and also zapped my cash flow.  

The online estimates are good in some areas, bad in others so if you haven't looked at any sale prices for properties that have sold you should start there.He is going to be more willing to negotiate terms if you don't badger him too much on price. 

., this sounds like a really bad idea.

If I had 8 sub-100k listings and was having to fight with my seller on every one to get them closed without him messing them up, I may start ignoring people too...haha.