When you hire someone who is not insured or licensed to do anything you are gambling with your entire future.

Banks are not required to fill out a property disclosure.They are selling "as-is".During due diligence a buyer has their "right to their own inquiry".Meaning if they want to spend the money to satisfy whatever report or inspection they want they can go ahead.If a listing agent only has one picture the inside is usually trashed or the agent is just lazy with the pictures.I like to give a overview of condition but say "information deemed reliable but not guaranteed".There is simply no way for a broker/agent to know all problems associated with a property.With my listings I want to be 100% transparent with the numbers and the condition I see.It makes no sense to blow smoke and then pray the buyer will overlook things.What happens is everyone's time is wasted and the buyer cancels the contract.You look bad to your seller and the buyer and have now lost 2 clients for future business.So give the information you know and be accurate as much as you can with the data.

Once you get the numbers down to a science and are accurate, I suggest using a real good clip of profits to leverage against to aquire as much r.e. as humanly possible.

Assuming the numbers you assume are accurate, this looks like a good deal.First, here are the fixed costs I always assume for a rehab:http://www.biggerpockets.com/renewsblog/2010/03/17/calculating-fixed-costs-flip-rehab-wholesale-real-estate-deal/Since I also save the 3% on the sale, but like to be conservative, I generally assume about $15K in fixed costs on the rehab/sale of any properties less than about $150K.

Stay clear of them, this site will keep you safe and get you the most up to date and accurate information.

Just for fun you can check out www.rentometer.com and www.zilpy.com - just consider the source :-)I have found both sites to be accurate for some areas - not so much for others.

It makes you wonder if they think that pre-bust prices, were a accurate representation of the value of the property being sold?

Get rid of the junk and it will make for better accurate housing statistic.

I can't really address the operational/execution of the rehab work.But, IMHO your profit will depend greatly on your ability to accurately estimate the needed repairs before you make the purchase and your ability to get the repairs/rehab done as fast as possible so the house is on the market.

Show a very detailed form that expalins all of the costs to cure if necessray as well as accurate comps.