My dad had one of these - a golf course condo in Clearwater, Florida - and at one point said he wished he had a dozen more because of the appreciation Florida got.

Hard Money Lenders are usually real estate investors that have amassed a ton of capital and need to make an easy return on their money.

Of course, the $850 quoted could just as easily INCLUDE a total amount WITH the utilities figured in (even if the tenant pays them separately).

I remember reading at one point that commercial ionizers (ozone generators) are supposed to work.

Both of these companies funded a TON of loans in my neck for the woods from what my research is revealing.

You would need an additional $10K or so of your own cash to cover the excess of the rehab over the loan amount ($3K), the points (about $4.5K), and your holding costs (taxes, insurance, utilities, etc.

The house is in the beginning stages of forecloser and the owner threw it on the market to try to sell.Look at the property history:Book/Page Sale Date Sale Price 14390/46 8/3/2004 239,900 13709/533 10/24/2003 99,900 3540/0280 10/8/1970 2 16862/0227 8/13/2007 226,950 This tells me it was a rehab at one point.My guess, without doing further investigating was that he couldn't rent it out, and make any money, and now he's forclosing.

Thanks for all the help in advance, I have already learned a ton on this site!

Less expenses (you can use 50%, but it could be more or less depending on many factors such as owner paid utilities, etc.)Now that you have an estimated NOI, you can calculate if the ask price is too high, in line, or lucky you, under valued.NOTE: Whne I mention this standard formula, it is used only to gage if I should put more time in investigating the property.

Here are my two cents, some banks are recognizing the benefit of having a good process for dealing with short sales.However, I am noticing that real estate agents and sellers are wasting a ton of time trying to get a bank to agree to a short sale with no written offer.