This year I sold the home for $136k and want to make sure I capture the correct cost bases.

If you are going to spend the time and money on mailing - it is best capture those leads the best you can, if you are not able to answer the phone regularly you may consider a recorded message to qualify leads and not just go to a voice mail box where 90% of people are going to hang up. 

If your not finding your own deals your capture is going to be thin. 

I got to thinking about great chefs who hate running a restaurant, etc.

Do the minimum renovation to start and get it rented and then wait to dress it up some more when ready to sell, but that needs to be a quick turn around so you don't wait too long to capture that equity and extend your risk of enduring a market correction any longer than you have to.  

The website will educate while the autoresponder will capture leads all on autopilot. 

My goal is to pay seller off and capture equity but I am worried about where appraisals will come in at.

My goal is to pay seller off and capture equity but I am worried about where appraisals will come in at.

Nothing comes remotely close to investing in real estate if you are able to buy it right, use leverage, and account for all the ways real estate makes you money:1) Equity capture (on purchase2) Rental income3) Principal paydown4) Appreciation5) Tax benefitsYou've found the right place to learn what you'll need.

I agree but they only capture the high end student.