(do you need permits for any of the work - call the town to ask GENERAL INFORMATION about permits and such).k, so 12k in repairs and let's say 12k in closing costs = 24,000now let's just saaaayy, you'll have a mortgage payment, and i'll just throw a number out there to save time and typing = 2500 month (includes PITI)and you plan WORST CASE SCENARIO OF HOLDING TIME - 6 MONTHS= 15,000you sell it with a realtor = 3% comm at 300k = 9,000add it up = 48000 total cost of project soup to nutsso, you buy for 239k + 48,000 = 287,000 sell for 300k...profit = 13kbasic but you get the point - try this: you probably shouldn't pay more than 180,000 for it.

I'm looking to help out anybody with investment scenarios!

These are two common mistakes that can really skew the formula.

I can even work with Hard Money so whatever scenario I come across I'll get the deal done one way or another.

I have recently just been buying as much property as I can and so are all the people who have a bit of common sence.Last coup in Fiji people were buying 500k homes for 50k , when the coup was over they were all laughing their way to the bank.It may be funny but if you want serious returns Fiji is the place at the moment.

What are your impressions of this scenario?

Unless it is common in your area (not sure where you are), having the kitchen and the only full bathroom in the basement could be a problem down the line.

Not figuring maintenance and vacancy is a common mistake for new investors to make when figuring an income/expense statement on a property.I normally figure 10% of gross rent for vacancy and 10% for maintenance.

Sub2 is a common reference in this area or at least with the escrow companies I work with.

The scenario is very simple- a spouse, sibling, or friend would add you to their account, and as the account was reported each month on their account, it was reported on yours, too.