I would like to minimize the cost associated with managing the property and am willing to do as much of the work myself as possible but it seems like most of the work has to be done by someone local.

I never used my education, wealth, smarts or any of the things so many have and waste.

Other $$ possibilities are available for quartersawn (but more waste).Now go kick yourself.PS put your calculator away, I'm not telling how thick a slab is.

The main questions for a rehab project are: what is a REALISTIC sell price after it is fixed up (ARV), conservatively what will the repairs be in order to sell it for that price, and what can I buy it for.Then punch in your numbers, 70% of ARV minus repairs should be around what you think you can buy it for, or you are most likely wasting your time looking at it.On a side note, to get to 70% equity you will need to find a motivated seller with equity, so one of my total focuses when looking for deals is finding the motivated seller who has possible equity.

Real estate agents in general have a tendency to say that a property has positive cash-flow if it covers debt service and a minimal amount of vacancy and often ignores maintenence all together.

And all this time, I didn't want to "waste money" on an inspector!

The non-refundable deposit helps you pay for the extra holding cost associatied with the time they wasted....

This minimizes my risk and does not bind me to buying the home legally.

You may find that you are wasting your time and you may find that you can get it much cheaper than you'd planned.

They're much easier to deal with and won't waste your time.Also...If you wanna to change your finances it takes work.