Plus you are going to need leverage of some type to acquire 25 properties anyway, and most lenders want you to have some skin in the game in order to get their cash.

Even these low-end properties now get all new flooring (carpet and 18†tile with deco dots) new appliances, granite counter tops, new sinks and faucets, dual pane windows, new base, casing and crown molding, new plugs and switches, interior two-tone and exterior paint.

Many times you can't even get into homes without having an accepted offer so this is something you are going to need to do on the fly anyway.

I always have to remember that the buyer is going to need about a month to close, so even if the property is under contract in 4 months there’s another month before it can close.3) I always want to make sure to call the banks that provide pre-approval letters to make sure that a potential buyer is really going to be able to close if I let them put the property under contract.

I've found that my more expensive rentals tend to need a lot less.

If you have a property with a list price of $49k and a comp of $179k, you're going to need to figure out an amount for the rehab work.

The present market tone is somewhat reminiscent of the way it was back in 2003 when the Baby Boomers were fleeing the stock market in droves looking for investment alternatives.

Through partnering with my parents I can figure out ways to acquire property on credit but a lot of the best deals seem to need to be cash at a foreclosure auction.

Photos are very important in setting the right tone for a relationship.  

And if the property happens to need no rehab, that's more profit for you.