Some newer homes are actually in worse structural condition than an older home.

Just from the video, I'd guess about $35K (assuming no roof, structural, electrical, plumbing or other major issues).ONE QUESTION FOR THE PRO'S!!!

You put together Other Peoples' Money, structured through an LLC, with the goal of getting an asset-based loan for this $50,000 house.Maybe you want to put e.g. 25% down, etc. on this property, but hoping not to have to pay all cash for it.Generally speaking, how much assets or cash would this LLC have to have jn order to get a bank to write a loan for this $50,000 house?

I would be somewhat concerned about liability and future code-compliance issues for an unpermitted structure that you are allowing people to live in.

There is a way to make a small increase seem "less painful":http://www.biggerpockets.com/forums/52/topics/77245-best-method-of-renewing-leases

I've been a local assessor for more than 30 years and have gotten numerous calls from the IRS verifying the land and building assessments for tax filers using this method.

If you instruct them the payment is due on the due date as stated in the contract, they will be better at paying by the due date.One word of caution, some judges look at the payment history and your lack of structure when settling disputes.

I've resorted to using the release method of wholesaling, but of course that works best with private sellers and doesn't work at all with REO's.

I guess I just felt like water in an old basement when it rains heavily obviously doesn't negatively effect the structure of the home since it has likely been wet since 1938 ...and if it is not a living space, why does it matter to a renter?

As long as the structure is sound.