I am scheduling a walk through this week so I'm hoping the repair estimate is accurate.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.

I haven't had the place inspected yet or anything but here are my calculations, please let me know if it looks good or not worth it.Purchase Price120,000.00Down Payment12,000.00Rehab Cost5,000.00 (estimating this just in case)All In Total17,000.00Rent1,400.00Tax166.00Insurance100.00Management140.00Vacancy 7%98.00Repair 5%70.00Mortgage550.00HOA0.00PMI50.00Water40.00Total Expenses1,214.00Cash Flow186.00Cash on Cash13.13%

As an investor event's like this make me stay away from investing within 5 miles.I have decided to open up my search range within an hour out of the city such as Yonkers, Northern NJ, and even a little further.Also as a primer on calculating ARV to compare two properties use this file http://www.biggerpockets.com/files/user/JasonScott/file/estimating-arv by @J Scott

In the recent survey done, it was estimated that many people who are expending on per month basis on the rentals want to switch it to mortgage so that in the process they will be acquiring the property.

Not to mention being able to estimate the amount of work needed to determine what the maximum allowable offer should be.

Additionally, I presented the business plan in four business plan competitions - placing 1st in a state competition and 1st in a national competition.Therefore, I feel with over 25 years of home building experience in design, estimating, site superintendent, purchasing, land development, as well as marketing and entrepreneurship, equip me with what is needed to succeed in real estate investing!

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.Download BP’s newest book here some good due diligence in Chapter 10.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookConsider checking out HUD homes for small multi's owner occupied gets first crack.Download BP’s newest book here some good due diligence in Chapter 10.

Secondly, know if the auction is going to make your property free and clear of if you need to look at leinsthirdly, you need some sort of rehab estimate.