Personally, I *hate* carpet in rentals... hate cleaning it, double hate replacing it-- so we get rid of it asap in all our units-- ceramic tile if the rents will support it, refinish hardwoods if they're hiding underneath old carpet, sometimes even laminate (not the cheapest stuff... doesn't hold up to water).

Doesn't sound too good EXCEPT the old house sits on a 1.3 acre lot where zoning is for .25 acre lots if connected to public water and sewer.

That's the difference between living in the overbuilt hinterland of Eagle's Point, as compared to world class theatre and gorgeous parks in Ashland.

Will tenant pay for all utilities, including water/sewer?

. $5B a month in buying capacity is at the higher end compared to most of the bottom feeders. 10% of Countrywide was sold for $2B and they actually make money on their loan book.Under 5% of the mortgages are in default.

I like all the answers, but like taking a swim in the water, you have to know what market you are in.

Not because i "didn't apply myself" but because what they were teaching was so watered down and regurgitated from the previous years that i was deathly bored of it, and a piece of paper (diploma) simply was not worth it to me.

That said see what he will really take and compare that to what Fair Market Value would be.

What you need to do is educate yourself.To answer your question, yes where you are, your market and the deal itself all matter for the type of investing you want to do.In a college town, you are going to be renting to students and not alot of flipping as the number of buyers is low compared to renters, so you can see, it really does matter.The type of loan they have as well as available equity in a property might tell you if it is a sub2 deal.

Am currently rehabbing a house and can hear the water gushing under the house (Crawl Space) when toilet is flushed.