House Hunting

I looked at 4 houses this evening with Justin Miller with Keller Williams.  First house on W Spring Creek in Plano was a dog, too many foundation issues.  The second house on Shenandoah in Plano was a really nice house.  Occupied, it's a short sale.  I normally don't like those, too much paperwork.  But I told Jason if he'd do the paperwork we could put in an offer.  Market Value is around $125-$130.  Asking price is $106.  To get to 70% I need to be at $91,000.  Not a bad offer compared to $106 asking price.  I offered $60,000.  I can always come up to a counter offer.  And, being a short sale, it will probably take months.  We'll see.
Third house was on Spring St in Allen.  Bigger house, 2,273 sf, two-story, but a 4-bedroom.  Minor foundation problems, inside was nice.  New flooring and paint.  A few patch areas in the drywall, and a leaking bathtub upstairs causing an issue on the ceiling downstairs.  And speaking of ceiling, popcorn.  Biggest issues are redoing the ceiling, all new windows (all have lost their seal) and exterior siding replacement.  All is MDF board, not that good for long term.  I might consider redoing the whole exterior in hardiboard.  Expensive.  But the numbers.  ARV on this house could be $190-$200.  Asking price right now is $99k...already at 50%.  I'll offer $75k.  If I get it for that I'll put around $35k into the house and should flip this one for a profit of around $50-$60k.  If I rent it I would cash flow around $700/month.  But this house I would probably flip and get my cash out now.  It's owned by Bank of Oklahoma so, being a small bank (meaning, not BofA or Wells, etc) they may be willing to part with it quicker. We'll see what happens.
The last house was in far north allen, and was not worth the drive.  Small wooden house, 1,500 sf, reworked duplex, window a/c's, gas jet heaters (i.e. no central heating or air), two kitchens, a mess inside.  A total gut and redo, which I'm not into right now.  Also, not in a great part of town.  I passed on this one.
So house 2 and 3 get offers.
Tomorrow I look at two more houses with Vance, in Carrollton.  I'm working the initial numbers now, but will finalize them by tomorrow night and possibly submit offers on them.  Anyone who wants to accompany me to these two houses is welcome to join me.
With Christmas looming this weekend, I'll work this until maybe Thursday, then chill until next week on my return to Dallas on Wednesday.  Please be sure and call or email me if you have any questions.
I will try and take some pix in the future of the houses I'm looking at so you can get a better idea of what I'm looking at.