Good Luck and I hope your interview happens

Just recognize the red flag for what it is, and say, "next!"

[I do recognize that we're normally buying properties at way under assessed value, and there may be a lag on tax relief as we pursue the appeal of the assessed value.]Secondly, they *should* subtract the P&I from the net operating income derived above, and your net positive cash flow should then flow to the income (denominator) of the ratio.

FHA recognizes the value that rehab/flippers are bringing to this market.

Originally posted by J Scott:While I don't do this, my guess is that most people who do build their out-of-state team first, and once that team is in place (contractor, agent, closing attorney, etc), they use the team to do their due diligence.For example, the agent can provide comps/ARV for areas and properties, the contractor can provide rehab estimates and bids for the work, etc.I'm not sure how you could do this without a team in place to help out...This is pretty much the best way to buy sight unseen out of state properties, JScott has summed it up well.Essentially, you want to have checks and balances built into your team and you want to build your team through a process several interviews.

If the repairs are something the buyer will do during a typical walk-through, you're going to limit your buyer pool considerably, as most buyer who don't have construction experience will likely be scared off.But, if the repairs will be hidden, and will only be seen by the inspector, that's not nearly as bad (though you still need to disclose to the buyer, they won't have to stare at it).I remember the one house where I did a foundation repair that was very obvious (see pics here: http://www.123flip.com/house-4-rehab-offer)...we got lucky and resold it in a week or two, but the buyer happened to be a GC who recognized that the fix was actually a good thing.

If I can add, Microsoft started with one product, perfected it and then branched out, very successfully.Exactly...amateur investors should focus...as you gain more experience, you start to look for the best investments, not necessarily the same investments...The difference between good and great entrepreneurs is that great entrepreneurs can recognize a great deal, even if it doesn't fit their "niche"...

Interview a few to find one that works best for your needs.

But I thought it would be good to interview and line up some local realtors for that area.

About half of the companies are not registered with the secretary of state even thought they use Inc or LLC in there names.I am just curious, do you recognize the guru that promotes this stuff?