Fenced in backyard with patio great for entertaining.

I think properties closest to the Candlestick park would be a good investment that would rise after the new retail, housing and entertainment venues.http://www.sfgate.com/bayarea/matier-ross/article/Candlestick-Park-won-t-be-snuffed-until-2015-5163953.php

So far I've been assuming I'd pay utilities (I budgeted 500$/month which I know will be way on the high side)

However if the rehab budget is double your guess then his best case is more or less not having to bring money to sell it.Still worth getting the experience of going out there and doing a repair estimate and talking with the seller, but I'd not hold out a lot of hope this will pan out.

Since your budget is tight, can you put it on the market and see what the market says about the paint and rental rate?

This is way over my proforma budget of $40-$50k/site.

For 4 years we have been living off one salary and been sticking to a budget.  

Question and/or advice.How would you handle a Rehab when the Design and Budget clearly are not in line with each other?

I just received a message from the Rhode Island Association of Realtors that said:"The real estate conveyance tax that is paid at closing by sellers of homes and other real estate will increase by 15% on July 1, 2014 unless you act today.Article 12 of the state budget will increase the tax $2 per $500 of the purchase price to $2.30 per $500.

.): $1,500Paint (most rooms need paint): $1,000Roof Shingles: (may or may not need to do; roof missing a few shingles near gutter): $300Dryer Duct (missing a piece that connects from laundry room to outside, quick fix): $100Hot Water Heaters (electric) x 2: $2,000 (which is probably way high, but trying to be conservative).TOTAL ESTIMATED REHAB BUDGET (which is probably sky-high): $9,400ESTIMATED CLOSING COSTS: $5,000 all-inPROJECTED CASH-ON-CASH RETURNS: 14.91%=====================SECTION 8 PROGRAMI really need to educate myself on the Section 8 program.