Risk tolerance & lifestyle will define the playing fieldHow close to the edge can you and the family tolerate?

In my experience, around 50 Flips last year in SoCal, a 900 sqft house should need no more than $15K in a normal area, and $30K in the highest end of neighborhoods.

Pulling out the carpet, kiltz the floor and than painting the house will get rid the traces for a "normal" person.

We already had the #'s ran by our HML who is normally conservative who said he would gladly fund it at mid 60's.

@Elizabeth c yes, I'm normally very laid back but on this first deal I was nervous!!!

Do a "hold open" on the initial title policy (which is normally paid by the seller) and then have the title company re-issue it. 

Since the home has been sitting for 4 months now, let's say I throw in an offer of $78,000, they counter with $85,000, we meet at $82,000.With an eye toward's Scott's section on holding costs, I've put in a (what I think is) conservative estimate of 25k in holding costs - this is based on me paying half the closing costs when buying and all of them when selling (very normal from what I've seen lately), holding the home for 6 months, insurance, taxes, mortgage, utilities, 6% sales commission, etc etc.

@Jose Urena  Normally advertising for buyers you're going to want to post in the marketplace.

With our transient life style, the class/appreciation goals single family just made sense.I hope to invest in commerical, apartment and vacation rentals but I am sure something else will come up in between.

Nervousness is normal but if you let it overtake you, you will never be able to take the risk and make some action.