excellent job..we had a run down 2br 1 bath that sold for $75k.All they did was enclose the attached (via breezeway) garage & added a master with en-suite bath, & it still looked ugly.But it did sell (FSBO) quickly for $114k.

Obviously there are many exceptions to the rule mainly applying to excellent operators that understand this side of the business in major downtown mid to higher end hotels.

Just wanted to get the BP opinion and some feedback here.I own a 10,000 sf piece of land in good area with excellent and problem-free retail tenant.

I really liked the excel spreadsheet you used.

Put the costs in an excel spreadsheet so you can refer to it on your next house and you will have a pretty good idea of what repairs will cost.

Just to give you another option, I used Austin Property Inspections:http://m.yelp.com/biz/austin-property-inspections-austin-2Samuel was EXCELLENT.

That is an excellent quality to have in REI.In your initial description you said, "I am pleased to say a family friend has chosen me to handle their short sale" This threw up red flags for me instantly.

Also "Flip" and "Hold" are excellent books.

Using a realtor to pull comps, giving them guidelines to stick to, and having them give a CMA(comparative market analysis) should work great for you.If there just aren't enough matching properties to use as comps, then you can use the price per square foot method.

In Oklahoma it's easy to know the taxes, figure out the insurance and we have an excellent sense of expenses from years of experience...