This is a spot to overbuild!

If so, is it one spot or is it the whole alley?

The plumbing is in tact but needs to be connected from the wall to the sink, showers on each unit.There is a spot on the outside where the siding needs to be replaced and filled and goes up the 3 stories.

If you are just matching a hole or a spot and the new stuff is "too" white ...........due to age, weather, etc....i like to spit a little tobacoo juice in the mud to make it match up.

Living Room: We will be painting walls, painting the ceiling, and cleaning carpets.Kitchen: Cleaning cupboards, fixing stove, buying a refrigerator, and replacing the linoleum.Backdoor needs the floor repaired.Hallway leading from kitchen to bathroom and 2nd bedroom: we are replacing the floor and linoleum.What we found under the board2nd bedroom: we are replacing a few soft spots around the edges and adding new/used carpet, fix the messed up door, and painting.Piece of floor in bedroom from hallway that needs repairRestroom: needs new shower surround, new linoleum(maybe) and painted.Master bedroom: needs repainted, new carpet that cover the whole floor.The floor under the wood pieces needs to be patchedEntire Albumhttp://s169.photobucket.com/albums/u204/burtonridr2/Gonzalez_8/

I have seen many investors in a tough spot in Michigan.

I'm also going to find some bird-dogs to spot properties.

It depends on a bunch of factors.Typically if it is listed then it comes down to what the owner owes on the property relative to today's value.Consideration of owner finance will depend on how much money you will be putting down.The amount down will have to cover the brokers commission and put some nice coin into the owners pocket.The seller will have to factor in if the place gets damaged,if you stop paying,the foreclosure time lines of your state,and redemption periods.I would calculate all the out and ask for double that amount with owner finance.To me it sounds like you are looking to owner finance for very little down.If that is the case you will be looking for one in a million.Even in the commercial arena finding sellers to hold seconds etc.or do owner finance is much tougher.They would rather sell today then have to foreclose on an owner financed property months down the road when the property is worth even less.Say you owner finance a 10 unit apartment building.Owner could sell today for cash for 500,000.You offer 600,000 with owner finance and some down.At first this offer appears tempting.Then you start analyzing.If you had 500,000 today INSTEAD of a note you can take advantage of the market by re-investing.If you instead owner finance at 600,000 then say the new owner has the property.Takes the 80% occupancy of the apartment and stops doing repairs to the property and takes money without servicing the note.Now it takes you 1 year to get the property back free and clear.The occupancy has dropped way down and now your 500k property is worth 350k in a down market.You have lost in this situation.With my sellers we got partial owner finance offers all the time.Many have very little funds and want the world.Cash buyers want too low of a price.Owner finance pays above market many times but the deal is weak with high risk.What I have to find is the sweet spot of a buyer putting 20 to 25% down where the debt service interest rate will be good enough and I can get the seller to let the property go for a good enough price.

This application would give me a fair idea about price on the spot and I could make an offer immediately (and maybe get a contract signed).

If memory serves Moscow used to be the highest property value spot in the world a few years ago.