Thanks Greg, here are the numbers:Purchase: $375,000 (short sale)Reno budget $75,000Comps on finished homes in the neighborhood are $700-850k and I have the ARV at $710k conservatively as the square footage of the house is on the lower end, but the lot is large.I have the profit under these assumptions broken down like:Sale Price : $710,000Initial Investment : $450,000Gross profit : $260,000Buyer agent 3% (we have our license to sell) : $21,300Investor PRR: $36,000Net profit : $202,70050% to Investor : $101,35050% to Me : $101,350Total to investor : $137,350Total investor ROI : 30%

@David Galvan I would look at it from a month to month basis, how much can you comfortably budget and devote to marketing rain, sleet or snow.

All rents seem fair, the normal problem I see when I analyze Muti's is rents to low.Weekly rent payments are not uncommon around here, we have a fair amount of factory jobs and most hourly workers don't budget well.I don't currently have week to week, and it bothers me on this deal.

You can't enforce with the city or with a tow truck driver most likely if they are not parking illegally.

Harmon:No bristling here, I was just hoping to show that I didn't fall off the turnip truck last week.

Just a 30 day notice and that way no need to worry about exactly how much longer he needs, I bet he doesn't know himself if the time frame depends on whether he can find another place and whether he can get back with his ex-wife, and both scenerios seem to depend on how he can budget time!

Your repair budget might be a touch high, but with the age of the place, your number is pretty good.

Already tried....should I lower my rehab budget or walk away?

Hopefully you didn't listen to me and backed up the truck and bought as many as you could.

We typically use 10 - 20k lenders as secondary and put their funds towards renovation budgets on purchased property.