Bill Gulley is correct about the agents (many of them) not knowing how to get the client prepared for finance etc.

Steven is correct IF the utilities and Insurance are tied to your Capital Improvements.

The root cause was it was never installed correctly.

I wont let the deal go...Your are also correct Brian Gibbons in the "fake it to you make it" I'll never get good at this stuff if I never get the first one out the way!

Anyone using that technique?

The other's are correct, finding flips in OC THAT CAN MAKE A PROFIT is tough.

To follow on Ned Carey he is correct that the asking price is not indicative of the purchase price available.

I just inspected a property yesterday, and got my first real look at it.Here is the information:Asking Price: $15,675On the Market: 79 DaysComparable Comps: 25-35K (I believe this to be a little low right now (The area just a few years ago was roughly 55-65K)Expected Rent: $500 to $600I did not factor in Closing Costs, but I figured a $7,000 bid offer with a contingency for inspection.Since most of my cash will be used up in the initial purchase, I plan on using the property as collateral to secure a personal loan for $12,000 at 7.5% (Not sure if this is too high) over 5 years.I assume that I got the COC correct?

BP is a great resource to learn about other investors techniques and markets across the US.

@Jacob Chaney @Wayne Brooks is correct, you will probably need to merge into one lot.