Right now I am a full time RE & Econ student.

Building1 needs ~$8K (carpet, paint, kitchen basics).

So the competition for deals gets crazy by all the first timers that will flame out and never do a deal but that does not make it better for those that do it for a living your constantly competing against someone with a 2k limit on their credit card and can hang on sites like this to get just enough knowledge to try to become a RE investor.. so in essence the market the interenet the desire to make a bunch of money because there is some illusion that RE is the way to rich's and lying on the beach.. has created the hordes all doing the same thing.We see this is the courthouse steps buying activity on the West coast every Tom Dick and Harry that can scrap up 200 to 300k in cash ( and there are Many) decide they want to buy foreclosures.. they show up to auction run properties up to a value that makes 0 sense buy it.. and never come back because they lost money or what have you.. and right when you think you got rid of those folks 5 more replace them... same thing is happening when your in the wholesaling business or distressed asset business.

If the house will sell with out staging because it is a hot area, I don't bother hiring a professional, I will stage lightly like the kitchen cook books, wine classes, plates and silverware at a sit up bar etc., bath with towels, fireplace mantel with my HOME sign, drop a comforter and pillows in the master on the floor and some stuffed animals in the kids rooms.

For a kitchen, I ask when the last time it was updated or remodeled was.

The house is a 1920s house on a corner lot but hasn't had big improvements (outside of a minor reno on the kitchen) - there's no central AC, for example.  

I scheduled a time to look into the home and when the time came we went to see it... kitchen had caught a fire and is in complete ruins, there is mold on the ceilings around the place, fire in kitchen went thru the roof and they placed a cardboard over it but from the inside you can still see outside, critters have come thru and torn up the place, the floorboards are all crumpled and lifted, garage is full of trash, the land hasn't been touched for any type of landscaping or lawn maintenace, inground pool is full of sea-like-weed but the biggest issue that I seen was when as soon as you go thru the backdoor into the home are stairs that lead to the basement.

THIS EXCELLENT,THREE LEVEL TOWNHOME,FEATURES 2 BEDROOMS,2.5 BATHROOMS,WITH SPACIOUS BEDROOMS,AN OPEN KITCHEN,HARDWOODS THROUGH OUT THE MAIN LEVEL,AN UNFINISHED BASEMENT THAT'S STUBBED OUT FOR A FULL BATHROOM AND BEDROOM,THAT'S NESTLED IN A GREAT IN A GREAT LOCATION.SOL AS IS, NO REPAIRS OR REPAIR CREDIT.Now here is an example of one done by J Scott's wife Carol.  

The kitchen is rampant with roaches, flies and gnats.

I'm too young to be an old-timer, but honestly I thought you were referring to a totally different Dave and Pete, both of whom have many satisfied customers and offer way cheaper REI education seminars.I'd hold off on giving these people your money for now.