Consistently getting 20% returns on large amounts of capital is not an easy thing to do.

Have your restoration agree in writing to a completion date, along with clear financial penalties per day late if it runs long for any reason.It should be an easy sell to the tenant - "take the place you used to live in and make a lot of the stuff new"If you're willing to move back in, the management will provide you with $500 to help recoup some of your losses...some sort of incentives really grease the wheels.Loss of rents varies like crazy.

Lastly, at least in my area, when I and other builders see retrofit windows, we look at it as the easy/cheap way out.

It is not much better than going on a future trading forum and telling how much easy money you can make in real estate.I know a couple ways that work, but without proper managment and proper capitalization, you may have dizzying drawdowns for many months.

It is easy to go on and on.)

Easy to find buyers under those circumstances. :)Hard to say without knowing all the details of the appraisal, but it looks like there might be something there in this deal.

My gut feel is that in many areas the "inflated" housing price portion due to easy loan qualification (low doc, stated income, bad credit, etc.) has been squeezed out and that prices now reflect what people will pay who have and are willing to pay all cash.

Its very easy, these guys prey on people with more heart and hope then dreams. third person money lenders virtually NEVER work. they are lining their own pockets and then hide behind every excuse in the world on why you can't get financing.

Its easy to make a promise now that has to be kept later.

Enjoy your success.Like my father (who was never involved in Real Estate beyond a SFR) used to say: "It's Simple but not Easy!"