If they lose a job, or get a divorce or have a medical problem, they don't have a large 401k or IRA or home equity or stocks or bonds to help prop them up.If someone in Indian Hill (most wealthy area of Cincinnati) goes into foreclosure, it is usually in a blaze of glory because these people will normally have the necessary resources to weather a financial storm.What is still a bit of a mystery is why the foreclosures are so clumped in certain small areas or even on just certain streets.

Is it getting back to normal?

If it sells for 230K and you buy it for 180K minus repairs, then you will be cutting it too close.On a rehab, 70% of ARV minus repairs is the maximum you want to be at if you are in a normal market.

Anyway, I own a couple of low-end properties but now I want to wake up and blossom and explode (in a good sense, of course).I've played 'stalker' to the real estate business: been to sheriff's R.E.

A small rental property is normally a very safe and easy way to get acquainted with this whole investing thing without taking too much risk.

Normally investors don't see a need for real estate agents in their transaction.

They normally don't care so much about your credit, so good credit doesn't mean much.I would recommend that if you have 60K liquid with good credit that you approach a banker in your local area about a commercial type loan.

I do think that most female Realtors seem to relate more to wife's of buyers just because they can see the house the way it could be as opposed to a man who will normally look at the mechanical and structural aspects of a house.

I use a percentage for vacancy and for maintenance (normally 10% for each), but if you are referring to PITI (principal, interest, taxes, and insurance) than the rent has nothing to do with it.

Normally I would say play nice and explain the BENEFITS that your repairs would make, but if your tenant is reciting CA code (accurate or not) then they are way beyond this.