Then a Civil Engineer, an Appraiser to determine what having a four unit would be worth, then a loan using the evaluation.

I recommend determining your set price point plus closing cost expense and then calculating what minimum rent would be required to cash flow the property. 

Or if you want to ignore me and not have a conversation just simply run away as fast as you can from that guy.

@Jason Tucker  you need to add in your utilities, common area cleaning, and turnover costs to determine if it makes sense. 

I'd recommend the spread on the return and your ability to replace damaged items (local vs. not local, strength of your team) be the determining factors in that decision.

If you’re looking for a single-family home under $200,000 and you don’t care what city or county it’s in and you simply wanted to meet the 1% percent rule, you might be able to find that.

., major systems like plumbing/electrical)Full Gut/Studs Down: $85-$120 per sq. ft.Luxury Finishes: $150+ per sq. ft.However determine the Rehab Costs are only a part of analyzing a deal, you also have to focus on determine the After Repair Value of the property in the specific Area/LocationIf you’re focusing on specific markets and ever want to discuss analyzing deals or strategies, feel free to connect, Our firm would love to help you!

Second, when Boomers lose their jobs, they often simply retire, and they are an enormous generation

I am hoping to get a better idea of the value of the land to determine if it makes sense financially to start the foreclosure process (the two notices have been sent).  

Determine local/state laws regarding wholesaling and determine if (1) you need to be licensed in the jurisdiction you’re considering and (2) if you’ll be able to operate profitably while remaining legally compliant2.