<p>ok, the 960 sf house finally sold for 136K, after commission and closing cost it will run into 150K! That is almost the retail value(less commission) of the house in that area! I think the most I can get out of is around 170K, 180k will be a bloody murder. That house, except windows and studs, needs everything inside… All doors are gong for god sake. </p>
<p>BTW, both homes discussed above are in Manteca, a town which is almost out of the Bay Area. Although I have heard ppl commuting from Stockton, but, Manteca is in Central Valley for all intensive purposes.</p>
<p>Well, as you know, I just spent $90k turning a 1000sf home into a gem, but it wasn’t in Manteca (wherever that is) 
So, it will be impossible to flip that house without new HVAC (lowest possible cost is $4k), demo costs to get down to studs, etc.</p>
<p>Going to start new thread with my latest house search</p>
<p>Yes you can drop $100 a sf in an area that homes are selling at $460 per sf. And make some money. The area I have looked at are less pricey so the budget for renovation has to be lower.
From the get go I thought it might be better for you to take it down and build from ground up with a 2000 sf two level house. Have you done that calculation? It would be a million dollar home.</p>
<p>Here is my budget for a $500 sf area. 300k for a 1000 sf home. Take it down and rebuild a 2000 sf two story house for about 150$ sf and sell for one million. Total cost 600k profit 400k.</p>