I once checked with the state on a grant to repair housing and rent it, but the grant was only available to sell houses, and only to low income people.

They most often also have similar views and values on the assets due to their lack of involvement with the specific geography and ideas about repairs and improvements.

They had to repair a couple of holes and replaced the chrome drain.

Also, by being in first position as a lender, your loan to after repair value ARV will be in the 72% range, which I would suggest be the absolute most you would lend against this deal.

Do make sure you keep enough in reserves should a major repair come up.

I have a pretty good idea of what the potential rent should be, and I've got some great reading material to further refine my findings.I've got a few things to do before I actually make an offer on the property, but now I've got to figure out the best way I can purchase the property.The property is listed at just over $15,000 and needs roughly $5-10,000 in repairs, and comparable comps in the area for this kind of house would be roughly $50-55,000.So with purchase price and repairs, I'm looking at a rough estimate of $20-25,000 investment (not including taxes and closing costs or other MISC costs).I'll have roughly $14,000 in cash in approximately three weeks, but I do not want to wait.

Two unit houses can be had for 40-60k which can be rent ready or need some type of repair.

.- Garage is attach to the house, but you have to walk out the side door and get in the house via front door.I could flip or rent, if I rent, I would get 9.5% Cash on Cash return, not including vacancies & repairs.

My thought is to buy the house for $40k or so, partner with the seller (he drew up a very detailed scope of work that totals about $50k in repairs but I feel there is still room for negotiation in his number).

-property tax-insurance-vacancy-property management-maintenance-capital repairs-legals and accounting.From the remaining 50% you service your debt, if any, and the remaining is your profit.