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Old 05-10-2015, 09:30 AM
 
536 posts, read 847,517 times
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I agree with Rabflmom's assessment.

Decent areas where you can find an FHA approved home, worthy of being livable/rentable, with no broken windows or missing plumbing fixtures, and with a decent roof with a few years left have, for the most part, gone the way of $1.50 a gallon gas.

Foreclosures worthy of rehab that are under $60K? There's still some to be found.

Homes under $60K, As Is, for All Cash? Sure.

But good luck finding anything that will fly with an FHA loan, in that price range, that doesn't require substantial work to meet FHA Appraisal guidelines.

http://www.hud.gov/offices/adm/hudcl...1502c3HSGH.pdf
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