I would add in that you can buy on the date of their choice.

I like the bigger 16 or 17 inch tile; I think it looks better than the 12 inch tile by making the room look larger. 

IF your flip does not work out like you plan, if you run into unforeseen problems (see Occupants from Hell thread), if the rehab takes longer or if it does not sell or your market sees a steep decline in value the you get hit twice.First your investment property does not pay off as planned and second your LOC lender keeps calling and asking for additional or larger payments ... or worse, forecloses on your personal residence to make good on the LOC at a time when the value of your residence and your investment property are low (underwater).If lenders require additional equity in your investment property, look for another lender that will make a higher LTV loan OR look for someone who will partner with you on your investment property.Good Luck

The letters were "professional" and explained how I can help add value to their home sales process by buying as is, for cash, close on the date of their choice, etc.

I also know other investors who hold properties in the USA - they have no choice but to hire PM's (Property Managers).Depends on how you want to run your business, some like hands on, some (like us) prefer hands off!

There are so many choices; however, I am ready to learn and take action.

I love LA and it would be my second choice after Atlanta.

The basic numbers seem ok, I personally like a larger ROI on paper as in reality things always come up to eat your profits.Be prepared for a battle to evict those 2 tenants, expect additional costs there.Are those market rents you plan to raise to?  

You'll have to see how each State Attorney General defines and applies "gouging" buying or selling anything from the norm or taking advantage of the public......usually they are more concerned with gas prices, fire sales, going out of business sales, but they can certainly touch on real estate transactions and do (usually in larger sham transactions).

When I spoke with one of the more larger banks, they wanted to charge closing costs, annual fee just to have the HELOC, etc, and in comparison their loan process it was not local so it meant the underwriters were off in some other state.For my experiences, there is one bank I will not use since it was a horrible ordeal in the past when I was financing one of my now-owned properties.