My current plan is to possibly bring a contractor and/or an appraiser with me so that I can get a rough estimate of repairs, confirm the current value, and obtain the ARV.

It is a good rule of thumb though)Take that and reduce it by the amount of your repairs and all of your acquisition costs and an error margin( I always use 10% of the cost of repairs for those little uh ohs).

Hello,I was wondering if anyone would like to know how to find "Professional Tenants" for their investment property and no have and have no issues with repairs, taxes, managment?

Try to work the entire deal from property search to the ultimate sale of the property after repairs are done.

Budget Planning etc...From what I've been readin on here you want to buy at 70% ARV minus Repairs.

4) If you got a loan to bring the taxes current and do the repairs, could you rent it high enough (and consistently enough) to cover the mortgage and other expenses?

I would hate to rush you through this because it sounds like this will be your first time, but yes it can be just that simple with a good attorney.Does the house need repairs?

I have done a lot of them, and would equate the extra work to doing an REO because there is a lot of paperwork, and phone calls with the lender involved, and in addition to that most of them require a lot of repairs, as these are already in foreclosure, and most of the time the owners have pretty much trashed the place, and it is a piled up filthy mess!

We can and are willing to pay the $6,000.The duplex will rent $525 per unit ($1,050/mo) after repairs are made.

Texas City, TX 2/1 ARV: $50k-55kRepair: $2500-3000 (may be less. very minimal repair)Fully Furnished (no refrigerator, stove, or television) Ready To Rent - $550-600/monthHouse #22315 5th Avenue N.Texas City, TX 1/1ARV: $35k-40kRepair: $2500-3000 (may be less. very minimal repair)Fully Furnished (no refrigerator, stove, or television) Ready To Rent- $400-450/monthTotal ARV of 1 & 2: $85k-90kTotal Repair of 1 & 2: $5k-6kTotal Rent for both 1 & 2: $950-1050/monthAsking price: $54.000thank youjhon