Next you will want to talk to a civil engineer about what it takes to do the survey, draw maps, and submit to the State or whatever agency has authority over subdivisions in your area.

The lot in Hollywood Hills is the largest at 30K sf with 3 lots so may be able to get 3 houses on that, depending on the gradient.

Great way to pick up some good info and possibly a deal.Finally download the newest free book on BP Chapter 10 has some useful info for you, the fact the author is handsome is just a bonus.http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-bookGood Luck

Unless in a highly desirable area with a shortage of rentals tenants push back a lot with any rental increase because it is one of their largest payments.3,250 a month X 12 = 39,000 gross incomeTake away .50 for (management, expenses, vacancy) go 60% (.40) costs if you cover the water or other utilities.So 39,000 X.50 = 19,500 at a 10 cap is 195,000 sales price.

I am already pre-authorized at my primary bank for mortgage considerably higher, but they are telling me I would have to wait 3-6 months to apply for equity or construction loan (and clearly no guarantees we would get it).

To get it to stop, advise them that a neighbor observed that behavior and told you about it, and that neighbor said they will report it to the authorities if they observe it again.

Angel, I knew this was going to be an issue, having a mortgage originator's license doesn't qualify one to underwrite a SF deal, they may have the authority to do so but finding one to take responsibility is another matter.I suggest you call the consumer bunch at the CFPB and let them know the difficulty.

I'm now in Grand Rapids mi (2nd largest city in mi) and the competition is crazy.

A loan officer registered with a valid NMLS# is the only person authorized to originate such agreements / loans.Am I missing anything important with regard to compliance when offering a rent-to-own solution?

One tipoff is when the listing and property tax records don't match.Buying such a house could involve nothing more than a quick conversation with the local authorities, or it could involve tearing it out totally.