When I realized that even though I put 20% down (38k), due to the higher interest rate my payment was only a different of $50.

Agent a promising their sellers ridiculous prices for there homes without realizing that our market is softening up and properties are being left on the market with no activity whatsoever.

After seeing the property and how low-quality the addition is, I realized the it's not salvageable and needs to be torn down regardless.

I pulled the utilities and realized the gas bill alone was $700/mo.

I realize that I'm about a year late here but I'm courious to see if anyone managed to get a group together for the SETX area and more so the Lake Charles, Sulphur,  Westlake area?

After a handful of replies to my initial post and some private messages I realize it is doable. 

I am from the NW suburbs of Chicago, IL and it took me getting my degree, and MBA to realize I want out of corporate America, and want to build true wealth with real estate.  

I don't know if you realize it or not, but California is a mess!

I realize actions seen as overly wasting your time or taking advantage of your resources would be obvious detractors, but maybe there are some other less obvious things that someone with little experience like myself may be unaware of.Thanks again for your time @Adam Wright 

-Added a closet to the Mother-in-Law bedroom-Replaced the water heaterNow, I realize these items won't add tens of thousands of dollars to the value but am thinking of listing the house for $184,900 which is near the higher end of the market for this neighborhood; I think I could list it for $189,900 and still draw interest but I'd like to sell ASAP.