One broker shook his head in amazement, saying he'll pay me on the spot at $750K and flip it for $850K.One memorable side story is we got into a dispute with the buyer at the closing, something stupid, in Dec 2006, my wife wanted to walk out, I pleaded with her to stay saying the market will crash.

Cracks in the foundation, dangling wires, three layers of roofing material on the roof, broken fixtures, off color carpet areas, spots on the ceilings, soft spots in the walls in the bathroom where water has penetrated, swampy areas in the lawn.

." - Jim RohnTwo years of blood, sweat, and tears into starting my company I started to gain traction and began investing in real estate. 

I review about 1,000 properties a week for clients nationwide.There are the serial buyers that are REIT's, funds,etc. that yes buy tens or hundreds a year and just want a deal and know how to spot it BUT there is a larger part of the market that needs help.These tend to be doctors, high level execs, business owners, UHNW families,etc. that want to invest in NNN but need experience to help guide them through the process.

I consider myself tech savvy and am typically able to find a lot of info on the individual   But as of yet I haven’t had to tell someone no because of their criminal record   But again everything is a WHOLE package  I have not scaled up yet however as I turn units over it gives me more experience on how to screen tenants and how to spot professional tenants   My properties are C class areas with a B- class units I would say.  

So use heloc/2nd for down payment and renovations, and get a bank loan for the bldg. 3- you’re spot on with the directions you DONT want to go in. 4- I’d look at 2-4 units next, value play, re-tenant plus renovations.

I would say even if you did everything people have recommended, you would still be fully retired in the next 3-5 years and you would be in a much better spot than if you do it today. 

Possibly a little foundation work (it’s on blocks)new water heaterneeds central ac/heat installednew roof (fascia and all components included) new flooring possibly some subfloor replacement exterior siding work(paint some, replace some)some drywall work where there are some small and large holes in the ceiling and walls in a couple of spots. couple windows replaced because of broken glassall new doors (2 exterior 3 interior) new cabinets and counters in kitchennew bathroom sink+vanityThis is in South Mississippi and would be using cheaper materials because it’s in a lower class neighborhood. 

Wow this is spot on (and blew my mind to pieces!)

I really appreciate the time you took to provide that feedback...and you are spot on with your numbers.