If one is recirculating it simply pumps everything back into the kitchen.

Obtaining a license is an advantage as has been mentioned; starting out as a new Realtor is a financial challange and I believe that is why you have some many part timers in the business.

I explain to him that he needs to heat , the bathroom , the kitchen , the laundry room and the crawl space .

.-20k down-4k closing cost-4k some repairs before rent ready-30 year loan at 5%-so all in for 28k-10 year expected hold time-Rent for $1175-taxes $290 mo-insurance $120 mo-mortgage payment $430 mo-total is $840 mo PITI-above numbers give $335 mo cash flow-after 50% rule = 157 mo but I adjust this up a little because I don't use a PM so I figure $195 mo is acceptable (maybe!).

If you get the -right house (floor plan, quality of kitchen-bathrooms, age of systems - roof etc), -attitude of the seller-landlord, etc(is the seller open to help a tber buy the property, being patient over 2 - 3 years), -right neighborhood (services, low crime, great schools, etc), All these factors create a GRADE A Product.

Also, the carpets (admittedly old) were filthy, the walls and molding were really grimy, and the laminate in the kitchen had 1/2" separations between the planks, also unreported.

I've gotten the home through the first several hoops of short sale initiation, and I'm currently at the point where I'm submitting all docs on behalf of seller (hardship forms, etc.).My initial thoughts on this: I've purchased short sales, but never been on the listing side, and I viewed this as a great learning experience (as I am a full time real estate investor more so than real estate agent) to gain first hand short sale knowledge and be able to help those in similar situations in the future (as I think short sales will be more popular than foreclosures to the banks going forward).However, I have a personal fix 'n flip that I just received an offer on and will close probably right on time with completion of the extensive short sale paper work (30 days out).My current thoughts: This house is a great investment and is in the same neighborhood as my current flip, and I could stand to make some good money by purchasing this home.

I am helping an HGTV guy who is looking for someone to work a kitchen, bathroom, bedroom (or some combo like that) for a show and in return they are willing to put up a substantial chunk of money into the reno for you.Email me directly if you flip around LA and are interested!

I will do everything else (roof, kitchen remodel, door locks) after closing.

With the limited number of comps, it's hard to tell though.After figuring up costs to refinish floors, gut and update the bathroom, update the kitchen, and repaint interior/exterior, I estimate the repairs to be around 14k.