I tend to go for the bigger rehab projects at this stage that others are scared of and the bank is eager to unload.Just yesterday I got an REO under contract in a neighborhood I have numerous rentals in.

So repairs like floors, shingling a roof or putting on metal roofs that sort of thing is doable by me, the walls and ceilings scare me a bit especially with the potential for cost (just my opinion tho).Any ideas on the costs I could be looking at?

1.Tired landlords a.List of eviction court attendants b.Mailers to Out of state landlords c.Mailers to Landlords who own more than one property with back taxes d.Mailers to Landlords who own tax delinquent multi-family properties e.Buy a "leads list" of landlords from: (www.realquest.com) 2.Mailers to Property owners whose assessment went way up this year 3.Mailers to Properties that were owned by known investors who went out of business 4.Mailers to out of state landlords/Owners of multifamily houses 5.Mailers to Tax delinquent homeowners 6.Place "We Buy houses" flyers/business cards at unemployment offices....a lot of people there could be having trouble with their homes and may need a solution 7.One-page Flyers posted on bulletin boards at large stores 8.Mailers to Vacant land owners (only in specific areas where development is ideal) 9.Using Craigslist to find sellers: a.Post ad that states, "I Buy Houses" b.Send emails to craigslist ads with apartments for rent (the emails go to landlords who may be looking to sell, or buying more properties) 10.Mailers to specific zip codes (preferably low income neighborhoods) asking if they want to sell or know someone who does 11.Mailers to People getting divorced 12.Mailers to Divorce Attorneys who can refer clients to us 13.Mailers/emails to FSBOs 14.Send mailers to expired MLS Listings 15.Post ad on www.Backpage.com: I Buy Houses 16.Send mailers to properties purchased between 3k-20k within last five years (owner might be wanna-be flipper who did nothing with property) 17.Send mailers to estate Executors/Administrators 18.Send mailers to Estate/Probate Attorneys (consider having my attorney send letter, business cards to Estate attorneys because attorneys always open mail from other attorneys) 19.Bandit signs: We buy houses 20.Big Baller marketing: TV, billboards, radio ads 21.Send mailers to Out of state owner who have owned for more than x years (more than 30 years, so you know its free and clear meaning they will be more flexible with sales price) 22.Send mailers to Building code violators 23.Send mailers to Health code violators 24.Send mailers to people facing foreclosure 25.Purchase leads lists of folks who inherited homes 26.Send mailers to people making double payments (bought a new house, REALLY want to sell old house) 27.Target people who have been transferred (job) and must sell NOW 28.Target people with medical problems / health issues who cannot keep their houses 29.Target who own vacant homes 30.Target people who are having financial chaos of any sort 31.Target people who are 30-60 day late on mortgage lists 32.Send ads/ mailers/business cards to Credit Repair Agencies & Credit Counselors 33.Target HUD/VA Foreclosures 34.Send mailers to people arrested for violent crimes (going to prison for a long time) 35.Send Mailers/ads/business cards to Realtors 36.Send mailers to employees who have been laid off (ie "corporate downsizing" in the news) 37.Networking with other investors, ACRE 38.Locate list of section 8 approved properties—send mailers to the owners 39.Post Newspaper classified ads: I Buy houses 40.Send mailers to Properties with liens: Mechanics Liens, HOA Liens, Tax Liens 41.Contact sales people at new home subdivisions (their clients will want to sell their OLD houses) (or place signs near new home subdivisions that say "Sell Your House Fast" with your phone number....they will want to sell their old house ASAP) 42.Contact mortgage companies; they may know of people wanting to sell their old house/last house 43.Hire bird dogs (sometimes even through craigslist "help wanted" ads) 44.Send mailers to Bankruptcy court listings 45.Send advertisements, business cards to Accountants and CPA Firms: They have clients with financial problems where an investor can be of help. 46.Send ads, mailers, business cards to real estate attorneys 47.Advertise using Apparel with Logos: Hats, T-Shirts, Golf Shirts, 48.Send to anyone getting their car repossessed: If the car is going the house isn't far behind. 49.Send ads, business cards to carpet cleaners: Many of their customers are preparing a house for sale. 50.Consider sending mailers to charitable groups/churches: They frequently receive gifts of real estate, but they'd rather have the cash 51.Send ads, business cards to City & County Inspectors: Code violations and red tags.

Reading stuff like this scares the BeGEEsus out of me . ..

I'm sure it scares off some people.

A swap would cost $10k - $14k, but would eliminate all chimney problems as well as most health and safety issues now and in the future.If you are only looking to replace your water heater, you could consider a heat pump water heater.

The housing bubble burst scared many out of the market and unfortunately many folks bought personal residences they couldn't afford and they lost them when interest rates went up, and the recession hit.

If anything, it scared me out of jumping in.

(This include rehab costs, and holding costs which include property taxes, insurance, and utilities.)We held on to the property far longer than expected before listing it due to some health issues with my mother that I was taking care of.

I see this as a situation that has to be dealt with on a regular basis but at the same time must scare many buyers away.