Nice small town with a community college and very few rental properties.

Using my situation as an example, for this particular property:-previous yr county estimated market value was 158K, -this year county estimated value is $150K, -zillow.com shows $144K and estimated rent is $1,420/mo.

Dion,On that note, if you are instantly approved by a lender and you have been previously declined because the deal is tough, this is another reason for instant suspicion.

If you're paying for a PM, you'll bump right into the 50% rule, which we've discussed in your previous posts.Is there any upside potential here?

I've wholesaled both and the differences I noticed were:1) You'll want to get a survey so that you know exactly where the property begins and ends.2) In NJ (and the northeast in general) there are issues with underground storage tanks (UST's) that were used from the 30's going forward when many homes were converted from coal heat.

Many college student receive them in the form of scholarships geared toward students in particular groups or in certain fields of study.In insurance, the healthy subsidize the unhealthy.In banking, the low risk bank subsidize the high risk banks (all banks pay the same rate for deposit insurance.With TARP, taxpayers subsidized the past risky loan portfolio of the recipient banks.

The house overall is in very nice shape and you can tell the previous owner did some updating (ie; new carpet throughout, painted walls, etc.,).

buying a REO property, the property foundation was finished, however we checked with the city, the foundation permit was issue but have not final signed off by the city with the previous owner.What is the risk of buying this property for flip?

I offer the state auditor 1 dollar and pay 1 dollar for the land lot and I pay 25 to process serve the previous owners and I pay 61 dollars deed fees and get free and clear deed about 60 days later.

No studs are required to be replaced unless they are rotten from previous damage or age ect. same goes with the floor joist.