Then I sanded and stained it dark brown. ( I would go lighter next time. ) Next, I painted a 16 inch grid over the entire floor with 1/2 inch stripes of black paint to camoflage the seams and make it look like tile

Repairs should be minimal on a house that is less than five years old.

(might want to do all at once to minimize the length of time that you need to lease the dumpster) Kitchen: Install Electrical/Plumbing UpdatesDrywall/PlasterInstall FlooringInstall Cabinets/CountertopInstall Fixtures/Outlets Total CostDate Complete:Thoughts on this?

Once you have the GC case filed you or the GC can counter sue (or amend the suit for minimal cost) the sub to get him in court.

Now the goal is just finding that niche in Phx.Nate/Steve - The areas I have been considering werent so bad that I would be afraid to go there at night... but my girlfriend on the other hand.. wouldnt want her walking around there after dark.

That said, I need the minimal down payment offered through an FHA loan to make this work and some of the FHA qualifications I can't meet.

Sufficient absolute cash flow with minimal effort is...I am sure I can think of others, but those come to mind immediately.Originally posted by Vikram C.

Any suggestions for books, websites, etc for me to get enough knowledge to minimize the risk?

QuickBooks (or at least Quicken) is a good choice for maintaining the books.As for business entity, it's always a good idea to protect your assets and minimize taxes -- talk to a CPA for your best choice of entity.And definitely have a separate bank account for all business transactions.

You need to find properties in worse condition to buy.That is where the upside is at.Properties needing minimal carpet and paint are not usually heavily discounted.The lender in these cases will:1.Sell to an owner occupant or long term landlord for close to full market valueOR2.Do the minor repairs themselves and realize the highest price they could obtain to an end buyer.