Also landscaping fee's in the summer and repairs that would crop up here and there.

Here are the numbers.ARV 205000.Repairs est. 20000asking 145000My strategy is to rehab and retail.

Some other things to consider:- A HELOC can be nice for covering SHORT TERM emergency repairs if you need that security.

I also plan to spend approximately 5k in repairs so I guess the total cost to me is 162k.I didn't get into the specifics of the property detail because I'm not sure if it matters what type of property it is.

I'm a newbie myself, havent made my 1st yet, still learning.I bought a single family home for $115K, put about $3K into repairs and am renting for $1000/month.

Here are some of the problems:1 - My contract with the manager states that they can't spend more then $100 on repairs/expenses without my permission.

That being said, if the bid price is lower than "Zestimates", you may have a good bargain :)Find out what repair/upgrade work (if any) is needed first.

I was thinking of moving into a livable house that needed updating and minor repairs, living there for 2 yrs then renting it out.

Loan amounts are based on the after repaired value.

My sister just bought a house at an auction for $25,000 it needs about $15,000 in repairs.