For agents: Are virtual tours a must-have for your listings, or do you find professional photos alone sufficient?

Lendbase was also misinformed of the requirements for agency loans.

My gut feeling is it's going to cost around $4,000 to repair and has been there for ages.

Once you file your 2nd year of tax returns, you may now be able to qualify for Agency Loans (FHA/Conventional).

Hey Michael,BiggerPockets is a great recourse to use when looking for agents that are focused on REI.

IF you decide to move forward in Memphis, recommend buying the first one turnkey to get you going.You'll learn a lot about rentals and the market with the first one.THEN, if you like results you can look for agents & PMCs to help you buy more and save the 20-30% markup you mentioned.Recommend you also read below info to set your expectations correctly:_________________________________________________________________________We think the Midwest is a GREAT place for OOS investors to consider!

Here are a few tips for agents I can think off:1.)

.)- All in Cost = Cost to build * Square foot  - Sales Price = All in Cost + (All in cost * 20%)* Covers contractor and soft cost on either fee based or cost+- Profit = (Sales price - (Sales Price * 7%))* - All in Cost   accounts for agent fees and closing cost- Initial List Price = Sales price + 10%      A buffer to test market absorption- Break Even being All in cost, point where everyone is paid except me. - List price is to test the market absorption at "x" price. 250k land + build.

=P been doing that for work for ages and just tired of dealing with people and their problems. 

there ya go.its 458 and takes effect July 1.. it also address's the new broker comp rules and other mandatory disclosures being enacted for agents..