I have another way , I only allow tenants automobiles on the property , unauthorized vehicles will be towed , all guests must park on the street .

The house is in need of serious repairs and as it sits, my educated guess ( Based on property tax values of comps and the fact that the same architect built 3 similart homes and his neighbor sold his house a year ago for $2.8 Million) its worth $1.5 Million or so.

We are thinking we want to start with a buy and hold property that does not need much in the way of repairs.

Figure out the approx repair costs.3.

I'm new to wholesaling.How do wholesalers typically determine the repair value of a property?

Might be correct but now my buyer in years 11 through 20 will have way more repairs to the property reducing cash flow.

I am looking everybody's $0.02 for the definition of ARV.When the typical investor is talking ARV (As Repaired Value)are they talking "Repaired" as in: A) repaired to average condition for the comparable house in the neighborhood?

I purchased a house in Edmonton that has a horizontal crack the entire length of one wall as well as at least one vertical crack.The work has been repaired but the seller never disclosed that the crack was there until after I ripped down some of the drywall and exposed the cracks.There is an engineers report that says that the wall has been repaired and has been restored to "structural adequacy".They installed an interior shoring wall of pressure treated 2x6's with staggered pressure treated blocking that is tied to the floor as well as the joists.I purchased the house with the intention of adding a second story.I am wondering if it will support the second story or whether there is more that I should do before I start building.The original foundations in the area are such that they should support a 2.5 or 3 story house without issue.

You need to estimate repairs/cap. reserves, management costs, and vacancies.

I assume you're taking into consideration everything for the homes: taxes, insurance, vacancy, repair reserves, expenses (CPA, utilities, permits/fees), property management, etc.The way I have been able to purchase my investments in such a short span, is to purchase investments which need significant improvements, complete the improvements myself (I'm a contractor as my day job), rent the unit and then refinance to pull cash out.In addition to doing that, I went to friends and asked to borrow money.