I get a full price sale and I get the credit repair income, while making the spread between the price of a crappy house and a fully renovated house,  Notice that I did none of the work and i had no money in the deal.  

Your first house can be a perfect opportunity to jump start your REI career whether you purchase a multifamily and live in one unit and rent the others or buy a house that you can renovate (sweat equity), refi and use the equity to continue investing.  

For repairs/vacency/capex: you have them equalling 20% I like to have them at 26% to be safe and that is with a newly renovated property.

It sound like the agent is saying you can get $250 a sq ft renovated.

I'm currently invested, with other partners, on a small commercial building in downtown Houston that needs a lot of renovations done to it (exciting first investment!).

My uncle had just bought a 2 unit in Union at a cash auction which he is renovating.

There are several reasons for it:- Lots of union contractors expecting union prices- Contractors having more work than they can handle in the spring/summer, so they take higher-paying jobs- Not enough buyer demand for rehabbed houses (meaning you can't charge a premium and recoup renovation expenses)- Strict codes and inspectors requiring higher rehab costs than other locations for same work- Long winter delays means inefficiency in getting reasonably priced work done in winter months

We started buying and renovating income producing buy and hold/wholesale properties as well as flips back in 2000.  

I like Journal Square but not sure if this is a good neighborhood, the street looks a bit dodgy.The Heights option - Small 3b/2b newly renovated condo.  

I live in CA, but own a home there that I will be renovating.