Purchase price of 105k2500 option payment paid over 3 months 1000 month for the first 3 months and then 1200/month for the rest of the year.1 year lease termDo any of you go with a more standard lease or do you just take repairs out of the option payment?

I’ve also used a couple of contractors out there and haven’t been satisfied with the communication and quality of work.

When those are compiled, I also look at the quality of the finishes/interior to match with my target completed improvements.

@Shane BrownMost states allow you to keep the receipt-costs for any repair that are necessary (beyond normal wear and tear).

-How much should I use on repairs?

She deals with all of the nuisance calls, repairs, etc.  

That is why you may have to do two closings and budget for both of them in an attempt to not let the seller that you are making a profit on what you are doing.In this economy Fix and Flip may be the best way to go including the borrowers that are willing to finance your repairs or rehab or to purchase multiple unit houses with a loan that the FHA will provide you with a low down payment but it is only made to an owner-occupant for regularly 12 months and you get to keep that same loan if you even when you choose to move away.Another thing to consider is to buy apartment complexes and take the advantage of positive clash flow and using a cap rate to increase your value on add-on properties and raising the rent. 

You will learn how they review applications, what their leases look like, how to handle tenants, landlord tenant law, how they handle repairs, what software they use. 

I know most flippers look for 65%-70%Arv - Repairs - my fee.

Great quality starter suits (Italian Mills, good fabrics & cloths) for $500-800 usually.