Jacksonville investment #1

OK, here's the first offering. 

It Won't Pass FHA As It Is. 

The property is 1084 ft2, 3bdrms, 1.5 baths in a
good neighborhood:  
  --Concrete block with a good roof. 
  --Great wood floors that need refinishing, great wood door casings (needs 3 interior doors).  
  --Full carport that covers the front porch.
  --Big lot, big back yard, screened porch. 
  --Large kitchen (needs all appliances and a broken tile fix). 
  --Bedrooms are good sized.
The A/C is very old and may need replacement.

The property is a short sale and is on the market for $80k (a lower offer could be made) in a $110k neighborhood.   With all repairs and a new A/C it is estimated that $7k would fix the property to easily pass FHA.

Check it out at:   http://www.youtube.com/floridafever