Not worth risk.

If so were there any complications worth mentioning?

I owe $300k and it’s worth 500k so that’s 60% LTV, yah?

@Ley Woods It all starts with finding a property that you can get under contract for less than it's worth.

I have come across a lot of lots that just aren't aren't worth building on for many different types of reason (soils, subsurface water, etc..). 

His advice was even at a break even rate the option is worth something so we're going to ride it out.

Other times lenders may require 6 to 12 months worth of principal and interest payment.

I mean I guess he tried and took pictures, but is that even worth 6%?

I avoid these small wholesale deals (especially after the one I mentioned above) because the taxes could make it not worth the while.Apologies if this is a newbie question, Im used to making more profit and expecting up to 1 year of property taxes max, getting a discount at the beginning, then playing catchup at the end, ultimately paying p. taxes for the time I hold and carry the property.

There is a good real estate investment club in North Idaho, and one good one in Spokane... both worth your time.