The PAC House1: This is the first house we saw. It's on a main-ish road but in a town that is smaller. The house is brand-new inside. Because it was only 5 minutes from our Realtor's office, we were able to go see this house. The garage, if it ever had one, is the master bedroom. The master bath is also the laundry room. The selling points for this house: Huge yard, clean, new, location is near safe park and nicer area for the era; off-street parking. Nothing needs fixing. The negatives: No garage. No instant equity since it's already been fixed up. 
the Food Bank House: This house was in a not-so-great area. I would be scared to walk outside at all hours of the day. It's right next to a nice park but I don't think great things happen at the park. Also, one block away was the town's foodbank and community center. I'm not ready to live in the ghetto. This is what this house sadly is. It's nixed from the list.
The other houses we nixed from the list:
the Corner House: this house was in an okay neighborhood. It's on the corner. The driveway beside it doesn't belong to the house. It belongs to the nicer, bigger house behind it.
The Hoarder House: this house shared the driveway of the house beside it (they had 3 cars parked there) and it was also next to a hoarder's house. Mike drove by this one and nixed it very quickly.
The Bad Parking House: this one was in a neighborhood of ALL run-down homes. My biggest complaint was cars were parked all along the road in all diferent directions. It just was sad and I would not like coming home to it. Nothing looked good there. I believe it to be rundown and don't want to live there.
The TV Tower House: this house is towered over by a tv tower and next to fast food stores. It sounded ideal otherwise. it had over 2400 square feet. The sizing would be great. The location is what killed it... but also what made it hit our price range. it's a catch22!
houses still to see:
I did drive by the red house. It's in a great neighborhood. The whole neighborhood is cul-de-sacs. It's the cheapest house in the whole neighborhood of almost no foreclosures. Because of it's condition, they would appreciate an all-cash offer and we might have a chance with this one. We're going to find out more about this house. It technically has an offer that has fallen through but the buyer has refused to remove their contract on it. What an odd world of real estate we have! The white house below is in a town that we were robbed in - in our 2nd month of marriage. Because of that, we've avoided looking but because this is in the north end of it's town, we still need to drive by it and see if we'd consider it. We'll do that later this weekend.
These houses are almost nixed. If we're just purely going for the investment and not getting emotional about the decision, then they might be okay. The top one is in an area that could be considered a great commuter location. It's next to a huge field and playground. I don't know if it's too close to the ghetto and will have to have Mike drive back by it with me.
this house's backyard looks at the Walgreens and Chevron across the street. While I like both establishments, I don't know that I want to be that close to a busy street and shopping centers. I don't need to see them everyday. I doubt the owners of those companies live near their own company stores. Why should I?
Lesson Learned:
- A house without carpet and appliances doesn't usually qualify for an FHA Loan. Cash would be a great way to go with these houses. But you're competing with investors when you fall into that bracket.
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