In the down turn cycle there were almost no new builds and lot's of foreclosures and short sales which required lots of adjustments and repair estimates.125-150 is typically a full interior BPO where they take pics inside and outside of the property.

Homes with septic systems are typically less expensive for several reasons1.

Essentially legging into a property for limited down payment?

I'm extremely strict and only look to invest my money in a building that has decent cap rate maybe 6-8% with an occupancy rate of 80-90% but where there is still room to add some type of force appreciation to the building, typically a C Class investment. 

Typically banks are most interested in debt to income ratio and how leveraged out you are.

You essentially become a cash buyer based on your line of credit and may shift things in and out alternately buying and paying.I hope this helps!

I would essentially be renting it at cost, with an extremely small to non existent profit margin especially since whatever money I would make after mortgage and HOA was paid, would have to be rolled into an emergency fund for the condo in case and when something will inevitably need to be fixed.

I think the only lot I’m aware of around here is in Tosa and it’s around $60-80k for a typical city lot.

They will typically ask for 15-20 % of the total project costs and at least 6 months of mortgage payments to fund your project.

Typically you need to be at least spec, and then perhaps you may want to go wider to ensure that it can accommodate large moving trucks, turning around, & so forth.