Expert Advice - Making reasonable and profitable offer.

[Wesley Kincaid]

Hello BP members,

I'm a new investor looking for some solid advice on my first deal.  I've been listening and learning for a while now but still a bit trigger shy.  I wanted to invest locally since this is my first deal and it's been rough finding anything with investment potential in the local market, but I believe I have something.  I'm looking for advice and creative options to make a move on this property.  

Here's what I'm working with...

The property is a late 70's 1800 sq ft brick single family that sits on 1.75 acres surrounded by newly developed 1600 - 2200 sq ft homes which are zoned 4 homes per acre in what I consider a B+ neighborhood.  The property has been vacant for the last 7 years and is not currently listed, but it is owned by a friend's parents.  It will need some renovation and there are concerns about plumbing and electrical that needs some due diligence.   The property is mortgage free and the owners are willing to work with me even possibly some owner financing.  

Has anyone had similar deals and what was your experience good and bad?

- Wes Kincaid