We came by the next morning to let some contractors do some measurements for flooring and everything was still fine when we left.

page=1Glad I left Orange County California to invest here. 

I think that if the right hand and left hand help each other I will accomplish more. 

It's basiaclly a turnkey buy and hold because no repairs are required and there are 4.5 years left of lease left with a current tenant.  

Over time however the needle will start swinging heavily the other way as the asset ages.Imagine a needle where on the left is new and on the right is old.

I would assume the $595/month includes principal and interest so there is ~74 months left on the contract. 

My down payment of 5% will be $3,000This leaves $5,000 left over for repair costs, and by reading up on what the FHA guidelines are and what they require for a house to Pass and be approved for " liveable " condition, I will almost certainly need more than $5,000 to do all of the repairs .Can someone shed some light please, as to how strict the FHA guidelines are , and what they will require , that Has to be done .

All cash deal and my question is if we have the paperwork that proves the home was left to our seller will title accept this and push the deal through without her name on the deed or do we need to do probate court, lawyers etc to get the deed into our sellers name???? 

@Joshua Dorkin I like the calculator, but I also liked to go back and change repair costs in the middle of a project to monitor how much profit is left in a project.  

Sometimes up to a week if there is high humidity, low temperature, or poor air flow.And as mentioned earlier, the end product may not align with expectations in a higher-end property, but will be great for at least a B property.