Looks like your making progress.

@Alex Craig  understood its a natural progression I think for folks.. as they move up the food chain.. plus you see it on BP  there is extreme interest in Multi...

The goal is not to generate some kind of massive monthly cash-flow, you are looking to defray your living expenses while gaining valuable hands-on management experience and building equity in a property with a very low interest rate.Don't start evaluating this property based on the 2% rule, 1% rule, or whatever.

In addition, I am curious to know which areas are in the path of progress in Birmingham. 

Want a true evaluation of a house , call a licensed plumber , electrician , HVAC , and a general contractor , cost you more but you are getting a state licensed professionals opinion 

To be more successful, you simply have to work on the other elements to progress your REI pursuit.

I think Education needs to be put out on how to evaluate land deals I have looked and there is not much out there.I say that to say that I don't think slowing down expansion make affordable house, it actually makes it more expensive because the supply is being limited.

Hey @Carl GraffI'm certainly no insurance-wiz, but my understanding is similair to yours in that most will use cost to rebuild as the basis for your premium.My guess as to why you're having trouble finding info online is that I think it's nearly impossible to give a blanket assumption to be used on a $/sqft basis nationally, and even locally I think you'll find challenges (the only difference location makes in the cost-based evaluation is the price of labor, for the most part, and does not address the issue of failing to account for different quality finishings/condition/upgrades). 

On the other side the owner has turned on the dehumidifier again and the basement is painted so it is not possible to evaluate if there is water in other parts.

I'll be paying close attention to your posts and progress.