You are in the business to make money, not to pay retail.

Steve if you are newly licensed I suggest you go work for a property management firm before starting your own.You also need to determine WHAT you want to manage retail,apartment buildings,houses,etc.The operations are all different.Property management is the most sue happy of all real estate types.Usually a separate E and O policy is needed at a higher premium and a separate company so you can shield other operations.It's a big pain for a very low return.Good Luck

These are not retail buyers; they are buyers paying a price representing a significant discount from retail value.Any valuation consideration is difficult.

Ok to keep it short and sweet my brother and myself found a property for sale @ 79k got the seller who was moving to china to sell the home for 73k got a estimate on a retail level rehab cost @50k the after repair valued bank appraisal came back at a crazy 250k!!

I think that buying one house per year is a pace that is achievable.

No investor every pays retail price, which is what most homeowners want to get.

On the otherhand, it will also likely cause uncertainty with retail buyers and could result in further weakening of an already weak market.

My hope is to have some longevity, and by doing it this way I can pace myself.

BUT, this is a foreclosure and you might not get the utilities on to test so you either need to budget for the possibility of them not working or you should stick to looking to buy retail homes that are ready to go.

Then a mortgage license right before Sept 11th (refi boom shortly after).I would have got into rehab to retail by 2002 and gotten out toward the end of 2006.