Say you are developing a building in NYC. 5 floors lets say with 10 apartments total.

I bought a house and ripped up the floor in the kitchen.

No inspector will be able to determine the condition of water lines that are in the walls and floor unless the water is turned on or they otherwise pressure test the lines.

Well I bid $156,475 on two REO homes selling for $249,000 (both same floor plans).House #1 Has been on the market since April, 07.

Hi,I wanted to see if anyone can review the deal that I just got under agreement and give me some advice and thoughts on it.28 units25 currently rented1 master lease space for laundry room fit outAsking price was 1.6Under agreement for 1.5 with seller holding 100K interst only for 4 yrs. at prime +1 (8.25%)50K downRecent comps in the area support the 1.6 million, however I was told that appraisers will often use the agreement price for the appraisal number instead of the supporting comp numbers.

I'm renting 2 floors and living in the basement.

If nearby, AND with hardwood floors, I do side jobs when I can which is almost never :( I dont know anyone where I live much to get referrals.

So I basically have seen two basic formulas on these message boards to determine whether or not a property is a good buy.For rehabbing: (ARV * 70%) - repairs = Max Purchase PriceFor Renting: Rent * 50 = Max Purchase PriceI would like to buy a property to Rehab, but be able to fall back and rent it if I can't find a buyer quickly... while also having positive cash flow after mortgage and operating expenses.If I put an offer on a property for $25k and the ARV is $50k (if I put in all new flooring, paint, and redo the kitchen and both bathrooms) that leaves me $10k (According to the formula) for repairs which I could likely do if I'm doing it all myself.BUT...That would have me with $35k into the property, and I am only confident of being able to rent for $600...

We have just begun to see the losses my friend.Flipper, I traded on the floor of the LIFFE exchange arbed options, traded cross currency options, went on to do structures commodity products and trade energy derivatives.

Find the proper location where you can get the proper permits and approvals, and lease the space.