Was driving around the area looking for good deals.

You might have 8 months of collecting "profit" and then have one bad incident that demands all of that "profit" and drives you a couple thousand more into the red.On a property that's generating a healthy $500-$700+ profit a month, I'd either be driving it back into the property to fix any immediate cap ex threats or saving half for a future investment, and half for padding the emergency bank account

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $138,500

Cash invested: $47,000

Sale price: $228,000

Interior and exterior renovation. Siding, kitchen and bat...

But don’t feel bad everytime I drive it i get the same reaction you have from other people.

There is a glut of student housing in the area, and I think competition is likely to drive prices down for anything that isn't new construction.

If a code enforcer happens to get wind of your project, from a nosy neighbor or just driving by and seeing contractors going in and out, you could have to start over.

I was going to start sending out some yellow letters to properties I identified while driving for dollars.

Investment Info:

Single-family residence buy & hold investment in Memphis.

Purchase price: $139,900

Rental property

Investment Info:

Single-family residence buy & hold investment in Oklahoma City.

Purchase price: $169,900

Rental property

He will probably do it by the hour, keep in mind he will be charging it like a service call everytime, counting his driving time and mileage.Hope this helpsKelvin Panko