If you're in 2nd position on the property, you can't really start any kind of foreclosure process until the 1st position lien holder is taken out (which brings me back to my first question above).

Before if renovating historic there was no changing the layouts but only bringing it back to life.

However it has to bring value enough to get people to pay on an ongoing basis.

Just too much rehab needed to bring them up to code for my liking.But the woodwork is amazing.

row=1&source=webThis type rental in the area where I live would bring $450-500/month per LU, excluding expenses.

for a newbie ..the best property is the one that you can access as many times as possible before you close. having the property under contract and "acting" as an owner, contractors will talk to you ..you can get bids, quotes, do inspections, termite letters, radon tests, mold test, etc ...imagine bringing army of inspectors when an owner still lives there ..not possible. you control purchase price ...so make sure you factor all things you need to change, add, update into ur costs ...u need to discover as much stuff as possible. once u do 10 flips ..probably short 10 minute walk will be enough to get u rough idea ..but by that time ...inspect, inspect, inspect

Then for each property I write down the name and contact information for each visiting broker who brings a prospective buyer.

I know nothing is free, so I'll even bring you coffee and a snack!

While you are free to bring another agent in to write the offer, traditionally the agent that shows you the property is normally who writes the offer.

Robert,I have a townhome in Farmington, MN that brings in $1300 in rents easy.