Hey everyone, thank you for the feedback. to answer your question Mark- I used public data as I currently don't have access to the MLS. To be candid, before talking to my cash buyers in the beginning I didn't know what they were looking for but I now I do. For this property is a lead I found from rebogateway. Yeah Mark there a lot of opportunities in SE Michigan, a lot of my buyers are looking for Dearborn, Royal Oak, Sterling Heights, and Detroit.
Jeff, after looking at the house twice for a walk through I estimated the rehab to be $100k. You might be right for scrapping the house and building a couple of houses on the property. I just don't where those kind of buyers are, let me know if anyone know anyone else that might be interested. Also, I'm not sure if that is being done in the area.
I have contacted several agents and one agent said he could a market analysis for estimating the value of the property. So we'll see.