Minor example would be a satellite dish installed where it shouldn't be, and a major example would be a huge toilet leak that has gone unreported for a long period of time.

I want 20% for profit so divide 88%/1.2 to get 73.33%.I assume a possible 6 month buy, fix, and sell time and so estimate property taxes, insurance, and utilities for the period.

I can read the title examination and abstract and assess the risk on a quick holding period, I can also go to court and defend myself in any title claim, if need be, I can pay for expert defenses, and fight claims.

You should definitely share your rehab progress with the rest of us -- I'm sure others would enjoy watching your progress.

Gives the rest of us some hope.

Just be prepared for the potential that your home may not be a long term resting spot for tenants.

Is there a way to get the home at a lower that 10% during the Owner-Occupied period?

If you have time over the holiday period then try to read the beginner guides on this site:http://www.biggerpockets.com/real-estate-investingAlso check out the BP podcasts.

Need people to CONFIRM their attendance on the call.Thank enjoy the rest of your day!!!

It is an interesting area - we were looking at the crime maps yesterday, and it is very high crime right around those apartments, but very low in most the rest of the neighborhood.I hadn't heard anything about the murders in the area.