@Terry: No I havent rehabbed a home from the 50's, let alone one this size.

Been visiting and reading for a little while here on the forums and the blog but finally decided to introduce myself :DAbout me.

Since REO's have potential unknown liability issues, is it more likely a "you get what you pay for" situation.A home may have a price of $250k, but have an estimated value of $300k (based on size, age, neigborhood, etc), but that means the bank estimates there is $50k worth of liability (whether that is unknown debt or repairs).

And the final project only has 4 investors.

Well... at least the ones responding to this thread anyway :)@ Brian L- My final bid was 35k.

Finally, leave a call to action at the end of your talk.

Hi everyone, been lurking for awhile and finally joined.

The foundation size is approx 1,100 sq ft for the whole house.

These degrees of separation will create an "iron veil", and while it is over kill for a portfolio of just a few properties, if you plan to grow to any size, you will be set with the ground work in place.

In a few more years of tenants I'm afraid the drywall may need removed and new studs put in.I'm considering purchasing a flat panel wall mount that will fit the size and weight of most retail TV's and installing it myself and making this part of the lease that the wall mount can't be removed.This rental is in a higher end development so the concern of the tenant not having a flat panel should be slim.