[Clark]

moving out? I was not initially looking for a home but I sort of stumbled upon one. I found a cheap bank owned property in a neighborhood I really like for a listing price of $12,900. I viewed the property and it is somewhat rough on the inside...definitely needs some work. I have no idea how to estimate how much it needs. I currently have around $13,000 in the bank.I work 6 nights a week in a restaurant and I have worked it out that I make minimum $1750.00 a month. If I purchased the house and renovated it, I would be pretty set, I would just need to pay for utilities, incidentals, property tax ($2000 a year), home owners insurance, etc. So what I want to know is, are all my expenses MORE than $1750 a month? Does this seem like a good option? Also, given the condition of the house, are bank owned properties negotiable? Could I really low ball them with an offer of $7500 or $8000? The house is a 2 bedroom basically with a small third bedroom upstairs. With the third bedroom it is about 800 sq ft.Is this a great investment opportunity or a potential mistake?