If you know what you can BUY it for (assuming there are no major repairs needed) and you know what you can RENT it for which is easy to find out a good target range then it doesn't matter that no one has picked up this property yet.Put it under contract, rent it out fast and make your money.

I picked this contractor because of his credentials.

I have a gentleman who did a few of my friends's homes quote me $1.30 per sq ft for labor and I pick out which flooring I want.Does this sound OK?

What he does is include utilities in the rent he charges, and has all the utility bills under his name and sent to a P.O.

Unfortunately these projects often features the homes jammed up on the property lines with a complete obliteration of existing trees/landscaping features to make rooms for a monster house so it doesn't necessarily serve to 'upgrade' the neighborhood in many cases other than increased comps.In other areas I've seen a builder slowly accrue multiple lots of and develop them in a more tasteful manner with new construction that is architecturally consistent with the other new homes they've built adjacent and allowing for proper landscaping.I try to do everything I can to avoid complete teardown and rebuild, if I can utilize the existing foundation and utilities it is a huge cost savings both in construction and in paperwork and permiting.

Again, I'm new and anxious for some mentoring here, so please feel free to pick apart this deal!

We also made different choices in picking the house and furnishing etc because it is a rental.Ours pays for itself but that was not true at first.

If he requires cash, I'd make him come pick up the payments and if he fails to pick up any payment by a certain date you won't be in default.

Are the utilities all split?

They include utilities cable and internet.