My preference is selective demo,  bleach cleaning and spraying everything with Kilz (there is some mold, which I'll remove -- and some smoke, which we'll clean and encapsulate), but only truly gutting the two rooms that were nearly demolished by fire (2nd and 3rd floor, one corner), all the ceilings, and the central hall walls from top to bottom. 

Also if there is a fireplace or gas heat install CO and smoke of course.  

Haven't had a second to return calls yet but it seems like a shot in the dark method.

Honesty is always the best policy - treat people right and there is no need to hide behind a smoke screen.

That would lead me to something much cheaper than $250,000, but it'd be in a part of town in which I wouldn't feel like taking a stroll through the neighborhood after dark and wouldn't want to raise kids in or be proud to have people come visit.Then I started looking at price per square foot as a factor, and considering the possibility of renting out some of the bedrooms (to friends or co-workers I trust) to pay for some or most of the mortgage payment.

The chart (At the site) shows that the sub-prime problem is largely behind us (dark grey part of the bars), as most of those teaser rates have now expired.

Dear Revinv,I'm just like you, pretty comfortable with the deal analysis, due diligence, etc. part, but in the dark re: taxes.

Without goals we are just wandering around in the dark, hoping to stumble upon success.One aspect of goal setting, that is vital in its effectiveness, is recording or verbalizing them.

Make sure you understand the market, demand drivers, and the potential re-use of the site in the event that your NNN tenant goes dark or does not renew their lease at the end of the term.3.

I figure it's a shot in the dark but still worth asking.