when you make offers, just factor in the cost of using a real estate professional to sell your properties.

For the experts, would you factor in average rents based on Section 8 guildelines as well?

:DThere is also another factor to that argument.

I deal with over 90 lenders so that I ensure you that I am able to offer you the most competitive deal for your financing.

However you have to factor in the 40k cash back.

Another good example of a similar risk is investors bidding as owner/occupants on HUD properties, which I hear happens alot.I guess I'm going to have to bite the bullet on the risk factor here for my first property and DEFINATELY get a mortgage broker to work on my next one.

Ideally, for my first flip it would be great for me to do some of the minimal skill tasks to make sure I stay within a set budget.

If it then works out that the house goes up or down in value just ignore its value unless you are willing to sell.Having a bedroom on the main level or other factors could be more important to your future happiness than trying to keep the value of the house under X% of your net worth.Flip it around.

I live in the Metro Detroit area (Macomb County), so there are plenty of fresh foreclosure listings every week.I would ideally like to pick up a property for 50-60% FMV, fix it up, and live in it while trying to sell for a profit.

:roll: But I am still fixing them up and selling them the thing is I am planning a hold time of 8-12 months when I purchase these and just factor it into the initial purchase price.