Personally if you are looking to grow in real estate going the traditional method/way of getting good properties under agreement with traditional financing will get you to where you want to go faster than trying to find all the needles in a haystack.

I personally would only reno to add additional living space and leave the rest as is.

Cost approach A straightforward method that adds the cost of the land to the cost of building construction.

I can't say when that will be but 4.125 is quite a lot depending on the rate you get.I personally want a hassle free funding experience and the lower rate.

Well if you go together it could split it and get basically nothing - spend $2-3k file a lawsuit and get a judgment you are first in line… Also in many instances you can slap that judgment on his personal residence as well and foreclose on that.

I also have a personal relationship with my contractor so got a massive price break. 

As a lender that has also personally invested in many properties, I think both sides can get too greedy.

You go out and buy an apartment house and then hire a property manager so you don't have to personally spend time on the property.

However, I have found local property managers to be very helpful in stating whether an area was difficult to rent, what the market rents were, and even personally knowing some of the tenants of buildings I was considering.

They say the average amount of water per day a person uses is 80 to 100 gallons , Lets call it 60 to be conservative .