i would think it is the way to go in this business.Construction is tricky, because many parameters must be considered as the ideal square footage, number of bedrooms and bathrooms, construction style, etc.. but once you got the right formula for the right area, things get eventually easier. 

The building is old and I will eventually have to update the pumping.The Numbers:$102k Purchase25% down - wanted to do 20%, but liked the rest of the loan5.0% interest rate 30 years Hard money  I am self employed conventional finaincing is a challenge$1071 loan fees 1.5% orig$7292 buy down and other fees = 2%= 1 point lower on rate I will use the fees to offset my taxesIt will take 3 years to cover the buy down - I expect I will own this for the long termMy lender is amazing - PM if you want his info$36k out of pocket - more cash than I wanted, but the deal worksThe good part:$383 P&I on 71k $148 taxes and insurance$300 - Property manager - he is a local guy and does maintenance and property management, collects rent, finds and shows the place.  

Keep in mind that when you invest on the lower end of the rent scale, success and failure is dependent on what tenant is put in place by your property manager - on the lower end of the rent scale, you have to be willing to accept that you might have a tenant that eventually doesn't pay, or when they move you are stuck with a multi-thousand dollar set of repair bills.

That's why they have outrageous interest rates to cover these eventualities.

No, to me eventually all of that land and the land in the surrounding area is destined for development.

Or is it one of those things where both have pro's and con's and I just have to make sure the numbers work.2)  What I'm thinking is that I would use the money from the equity financing for the down payment and then eventually refinancing with a conventional loan to cash and pay off the draw I used towards the down payment so I can use it on another property. 

Eventually had some people build a bar/countertop thing to put over there.

Eventually this can become full time.

This would give me a good grasp of what they're listed for but I don't know that any realtor would want to tell me what the house eventually sells for.

When you're trying to determine ARV when fix and flipping or wholesaling to fix and flippers, you're trying to estimate the price the property will eventually bring in a retail sale.