If you ever want to stop by and chat, I live pretty close to I95 Auburn exit and we could get coffee.

How about we get together share some ideas, exit strategies and possibly network to reach our goals.

With proper planning and advisory during the development phase you can be sure to have an exit strategy when your time comes.You didn't mention where your land is but, if it's near Little Rock, I have some contacts in the area.

Before you get into a deal, you need to know your exit strategy and what you need to do to perform each step of the process.

First off, identify more precisely what the exit value is and we need to know what is the amount of repairs (in dollars, not quantity) needed to obtain the exit value?

Communicate intelligently that you have a realistic comprehension of the exit strategies and what is required to get there.

I hope to be posting the same soon with a different exit strategy

To me, the ones that I'm guessing lost their shirts are the ones that were buying homes for appreciation and that had no cash flow so they ended up going back to the bank as there was no exit strategy left to them.

Depending on your exit strategy, @Jason Dillard mentioned several good reasons to go with a single family.Point is the answer depends on you are starting from, and your current goals.

N the $340k exit range, it is very difficult to get 70% deals and I have consistently made money in that range using a 75% rule, even with financing.