Ive never flipped a house before, I have no idea what supplies and materials cost, and I dont know what's a good price for a decent contractor.

If it then works out that the house goes up or down in value just ignore its value unless you are willing to sell.Having a bedroom on the main level or other factors could be more important to your future happiness than trying to keep the value of the house under X% of your net worth.Flip it around.

The main thing I am unclear of is the fact it is 'Government Subsidized'.Is this an advantage or disadvantage?

Ive fixed plumbing problems in my rental units from main drain clog, froze/busted pipes to broken mains inside and out root infiltration you name it. call roto rooter get a sewer camera inspection and find out whats wrong it may be a busted elbow this may be cheap to fix now if you have crushed main's some plumbing contractors offer a pipe bursting or pipe relining service and its done with hydraulics they don't even have to dig your soil up they inject a liner in your pipe with pressure guarantee 50 years also try rotorooter,com p.s i had this same exact problem sewage coming out under kitchen i ripped up the floor dug around the pipe then called my plumber to fix it cost me less than a thousand bucks

I would research the name and any info that can be gathered off the main search engines.

In my market in Mid-Michigan the actual number of sales are up about 10% from last year at this same time but the average sales price is down about 10%, mainly stemming from a large number of the sales being from reo properties. selling way below the market average.

One of the main points is the question about what happens if the seller is up against foreclosure.

The point the authors make is that while many people are leaving the marketplace due to the media's drumbeat of "crashing RE markets" and the increase in market supply, savvy investors should be buying as many good deals as they can instead of sitting on the sidelines waiting for the market to finish its correction.

All these factors are the main reason we always offer free estimates, there are just too many variables involved.

The main problem I'm having is finding a local hard money lender.