Dan:If you are absolutely certain you have a good prospect, save the foundation issue, then spend a few hundred dollars to have a structural engineer and foundation specialist assess the integrity of the structure, formulate a corrective plan and provide a budget cost estimate (add a buffer to these numbers).If it still looks like something profitable, and with which you are comfortable, afterwards then why not proceed.However, if this is your first dance with a structurally compromised structure, be very conservative in your analysis as there could be many "oh ooh" moments above the foundation.

Los Angeles is a wonderful place but if you're looking to spend $3M it still goes way further in Houston than it does in LA or NYC.

Summer is approaching and I would like to spend my time meeting new people in the industry! 

The first Monday of every month there is a FREE meeting at the Rutherford County subgroup.Like Justin says, it's the best $149 yearly membership you'll ever spend on yourself.The other REIN meetings are $25 each I believe.

I moved to Dallas for a year in the late 90s and one thing I noticed was that the sales taxes there were more like 9.5%, plus or minus.If you're making $100K a year, this doesn't make that much difference - you just don't spend that much on groceries and other goods that have sales tax over the course of a year. 

If you have time consider spending 30 minutes for 30 consecutive days on Bigger Pockets.

The units were also being upgraded (albeit at a very slow pace).So, as you can imagine I was super excited to find a deal where we could not only improve management, but also increase rents and not have to spend a ton of money to on CAPEX and repositioning.

., resident in the forums.Click on the "learn tab" at the top of the page, and you could be spending many hours on the Information that is available.Raymond

But spending money you didn't know was in your account, and assuming that a tenant would do what they said and nothing would go wrong, was, well, short sighted at best

If only I could have found bigger pockets before spending near $45 k on REI education, I could have finished my first deal already.