My new prospect

I looked at a house in Terrell Hills this afternoon. TH is San Antonio's River Oaks. The home is about 50 years old and sits on a 1/2 acre lot. Get this, it's 17 1/2 inches out of level. It's about a 1500 sq-ft house and it has the worst foundation I've ever seen. Once it's leveled, the plumbing will break all to hell and gone and the roof will buckle. The sheetrock will break up so bad that the house will need to be gutted to the studs. I love it. Houses like this - in neighborhoods like this - put wood in my shorts.

I think I'll offer $40,000 for it. I would imagine that it has an ARV of between $125,000 to $150,000.