We have no kids and are looking for great restaurants, bars, and shopping. 

And then you have agents trying to shop lender by "how fast can you close?"

They should not be feared any more than the customer at the mall doing a little shopping.

Also, when you need cashiers checks or wire transfers on little notice it's convenient to have a one stop shop.

Also, since I am starting out as a true 1 man shop, can I convert everything to a Solo 401k to use the money to get the business off the ground, then when I am at the point of hiring someone, can that Solo 401k be converted to a Self Directed IRA?

I'm submitted my first offer today.Sq Ft = 1,018List Price = $65,000Initial Offering Price = $32,000Max Limit = $40,000ARV = $125,000Realtor Fees = $7,000Closing Costs (Buy & Sell) = $1,200Inspection Fee = $350Holding Costs (Personal Loan) @ 6 months = $4-6,000Total Variable OH = $14,550Rehab Costs w/ contingency = $34,900Net Profit (ARV - Variable OH - Rehab Costs - Purchase Price) = $35,550Net Profit After-Tax (Impose short-term capital gains rate at 39.6%) = $21,827Work that needs to be done:Rebuild mudroom and re-route washing machine/dryer lines = $4,000Kitchen Rebuild: Cabinets = $1,000Granite CT installed, sealed, beveled = $1,400 New appliances (may use a 2nd hand shop) = $3,500Flooring and back splash = $1,500TOTAL Kitchen = $7,400HVAC (received quote w/ ducting install) = $6,000Front porch repair = $1,000Half-bath install 12 sq ft (@ $100 per sq ft) plus cost of supplies & equipment = $3-4,000Add closets to each bedroom = $1,500Fix ceiling water damage = $2-3,000 Foundation leveling (house has settled) = $1-2,000Renovate full bath (replace tub, new vanity, replace toilet, re-tile) = $2,500Simple landscaping (mulch and shrubs) = $500Fixtures and Hardware = $1,000Contingency = $2,000GRAND TOTAL = $34,900I'll be doing the majority of the work but will have to sub-contract out construction of the mudroom, half-bath install, and closets.Immediate Questions I'm concerned about:1) Cost to rebuild mudroom.

BUT, candlestick is getting torn down and replaced with a new shopping center.

I am looking at another 6 plex right now in an area that is on a bus line, 1 block away from a medical center, 1 block away from dinning and soon to be 2 blocks away from a new LARGE Kroger store that is going in a vacant shopping center.

If I was shopping for a new primary residence and got emotional about a particular property, that's a different calculation of 'value' entirely :-) In my experience recently, the banks seem to care more about you being able to close easily than about how much you are offering....

Also, while he still might have paid as much to someone else, he likely would have had the job done in a timely manner, thus reducing his holding costs.Not saying this isn't the OP's fault (ultimately, anything that happens on his project is HIS fault), but by the same token, the contractor deserves to lose out if he didn't do a high-quality job in a timely fashion.