Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

It's almost like they tack on a few hundred dollars to the order and forget to charge sales tax

Happy to jump on a call sometime and talk through these things and perhaps help narrow it down.

Is there debt on the property or are you doing all cash?

Just a builders risk policy if you are doing an extensive rehab on the property and then a landlord dwelling policy when the property is rented.

:)We have a new listing on Airbnb.

However, just get in, see where you fit, and build over a decent pace where down the line you will be doing great.

I saw once where a developer gave the buyer a pass on paying HOA fees till a house was built on a lot. 

Not really sure how to go about financing but we're planning on having a down payment at or slightly above $100,000 and don't want to pay more than $3100ish per month. 

The discount on the full hurts!