The deal was as follows: Estimated ARV= 180K Estimated Repairs= 50K My price= 50KIt was a gorgeous deal and I was wholesaling it to a local buyer for 70-75KBut like you say Joel, the time and money invested into the whole lawsuit would have minimized profits, emptied my pockets and filled the attorneys.

Repairs and maintenance of older buildings will eat up any dreams for profit you may have.

Hard to buy & flip to make a decent profit in Ranch C.

Because of this RDPD session, we will now be offering a lease with an option to buy on the property, which should make us a handsome profit compared to our current under-performing rent.

I know this sounds crazy, but the banks like seeing profit.

I quickly found out that even a little debt can eat large chucks of profit because over time the 50% rule is absolutely true.

With the amt. of turn over, I believe the couple of hundred bucks per month that you should be profiting per month is just too little for the amount of cash you have out and for having 2-3 families under one roof to babysit.I am speaking from experience, I owned 2 doubles on one lot that brought in 1700 per month, I was into it for next to nothing, and eventually I paid it off.

Michael rather than looking at 10k houses that are thrashed and need more repair in a high crime area than the property will ever be worth I would go to areas where you can pick up nice properties for in the 30's to 50's.Lower property taxes,will appreciate faster,and have better rent growth.I would rather have one of those than 3 of the trashy properties that never ever turn a cent in profit and cost me money.

Doing the math, it seems to have potential for profit.

For the walls in every room, I use Almond Oil from Lowe's with one accent wall in every room.