There are many areas where renting works out to be a cheaper way to put a roof over your head than owning.

The roof is in new condition, windows are in place.

That's a ridiculous amount for the contractor to ask for, unless the work requires a lot of upfront costly materials (like roofing jobs);- Never finalize a bid until after you have all the information you need for the job.

Old roof?

A big part of the 50% rule is saving capitol back for those big ticket items like furnace replacement or, the most used example, a new roof.

The appraisal was very easy, as the intown market has been booming for about the past 12 months.Actually, one of our biggest problems after doing these two houses was that the neighborhood got very hot and prices went through the roof.

Similarly with roofing, grading/excavating, landscaping and other exterior work that can be more complicated during the winter in cold climates.

In the past I have gotten Fannie properties for as little as 50% of the list price (always highly distressed and always with tarps on the roof for that discount).

I can believe that because of the area there are always distressed props there.2. couple from Mid west did not know anything about real estate and were learning how much to pay for a square on a roof replace. and all other sorts of minute details to rehab..

He said to insure a rental property with them the property "must be less than 60 years old and have had recent updates (last 10-15 years) to roof, HVAC, electrical and plumbing".I don't have a problem with the recent updates part of that but there are a number of areas locally I am interested in that have homes more than 60 years old.