Yes, we want buyer with high equity and in a good neighborhood, but you might want to add some criteria like:1. where the house is at least 20 years old, because that's when they feel frustrated and want to move out or spend money for repairs2.

It's worth a try since you're not spending much.

I always recommend these 3 things to people beginning in Real Estate Investing:1) Do a lot of research here2) Do not spend a lot of money with coaches, it would be much better to put that money to work and learn from experience, I'm not against coaches or education, but you need to be careful as there are some that are really bad3) There are many real estate clubs out there, visit them, select your favorites and meet other investors working your area.

Once you find a house you like, then you'll know if you need the 203k or not, and how much you can spend.

He no longer lives in the area anis ready to dump the units, I explained we have two flips going on now so I did not want to spend money upfront.

However, that is not most files, and the ones that spend the money to do that would not like being contacted by you anyway.

It also depends on how much you want to spend and make off the deal. 

Alexey Krol On #3, you spend and get 30-50% profit of the selling price, on #1, you buy at 75-80% and hopefully profit 5% (in LA). #1 and #2 is the same.

I did spend $50 on them when they had there baby.

I would keep it to myself for now and spend the time scouting the terrain.