Should I be concerned with this, or just go ahead with inspection as planned?

I have been bitten by a 10% price correction in a very nice neighborhood that all of the sudden had too many sellers and not enough buyers.If you are going to take on a very light job that is straight forward and you are going to account for all expenses, then go ahead and feel good about the $10K profit and go get another.

I was trying to do what every other investor was trying to do, just get our families ahead.

Yeah, I would guess it will have a pretty good impact on the price, but I'd prefer to know that ahead of time.

The goal here is to eliminate assumptions & questions from a banker by answering them ahead of time with a summary of what you want to do with they money THEY ARE GIVING YOU.If however you are going after equity investors, this is at times a different animal.

I suggest you wear good rubber gloves, and a head sock like painters wear + eye protection.

We decided not to go ahead with the transaction, but here's some information for anyone who encounters this issue in the future.1.

The hard part about the '3 months comps' rule is that most of my flips take 3 months to rehab and get under contract so I have no idea what my comps are going to be ahead of time.

Nobody can tell you ahead of time if you will qualify for finacing after you have established your consumer debt, so it is very risky.I think this stategy would actually be pretty awesome if you had the cash to cover the deal anyways.

It was a factor along with many other things that came to a head in 2008.