Thanks Josh and everybody for the great education!

I'm an airline pilot and Air Force Reservist looking to get into SFRs. I've been lurking for about 6 months and really appreciate the realistic approach of this si...

Overall the building is in great shape, with the only major maintenance issue that I can see is that the roof looks at least half way through its life.It's listed for $49,500 but has been on the market over a year likely due to comps.

I couldn't even tell you exact numbers without seeing my tax returns, but I know I have bought and sold over 30 pieces of land every year for over 12 years now houses hard to tell but at least 1/3 the numbers as I do land.

I like the numbers and even with all cash these are the numbers I look for getting in at 60% of arv makes me feel real cozy about the deal. when the property and fix and repair cost are under 70% or arv your in good shape.

Semi gloss on interior trim unless its not in good shape or plain jane and I dont want it to stand out, and on the walls the lowest washable sheen.

One a 1991 in decent shape and another a 1974 in decent shape.

You may buy it at $7,000 but it really needs the $20-$25,000 in repairs to secure the property not to mention reduce your liablity (the roof is in terrible shape and I wouldn't want a tenant living underneath it).

My bar tender has a masters degree, I know a waitress that has 2 undergard degrees, people at subway have degrees, what job do you think you can land that will pay off student debt and give you qualifying income to buy real estate?

Is the property in good shape?

The Land of free spirits ;o) You're right my price point is non existent here in San Mateo County so I'm looking in surrounding counties as well as Austin.