The agent's job is to spot borrowers in financial distress - usually people underwater on their mortgages.

I wholly agree with Don.Buying properties in the setting you described are my sweet spot.

Many pocket communities are in the lower bracket making affordable housing a hot spot!

There's a spot for contingencies, too, but I can't remember the last time I went into a deal with any sort of contingency.By the time the document reaches my email (or Faxburner fax number), all I have to do is open up SIGNificant (my android signing app of choice) and Faxburner/email it back out.

If you're pouring in a lot of improvements into a 400K house, having less than optimal windows might take away from the new flooring or would be the only sore spot in an otherwise spotless bathroom, you get the picture...Having said that, for a 60 year old house, the windows are part of the character of the home, I would try to keep them, do the sanding, caulking, and painting yourself, it shouldn't be a tough job.

And about leaving them there, not to sound harsh, but there in a financial troubled spot on there home currently, do you want that to be with you at some point?

Having no cash and no income is a pretty tough spot to get started in this business.Fix and flipping vs. buy and hold are two very different businesses.

:)Now I know that:• I need to know how to fix houses• I need to know how to spot a good deal• I need to know how to evaluate the condition of a house• I need to find books about flippingLittle by little I am creating a road map that will lead me to know the necessary to start.I agree in your response on #2.

I also had no choice as I live 250 miles from the property in question.My main goal here is present my scenario so you guys can spot anything that may look "abnormal" so I can learn few tricks in detecting red flags.For example, the questions that Jim asked didn't crossed my mind, which, is the price/risk of being a newbie.

I'm not trying to put you on the spot, but let's say you get approached by someone like Zillow, would you sell it now?