Really cheap to aquire and almost doubles in value after he uses the bobcat to level it out....

Just because someone is buying at 70 to 90% of value doesn't mean anything with respect to the 1% "rule".

Can pay cash but prefer to finance part of it How did you add value to the deal?

While real estate values do rise over time, if you can't cover your bills during the downturns to get you into better times to sell, you are likely to lose money.  

But the signature turns into value.

Does anyone know how insurance companies evaluate these properties and whether or not real value can be realized for insurance for renovation? 

2nd home loan How did you add value to the deal?

Quote from @Melissa Vass Scott: Hey everyone, would value your opinions as we are working towards building a real estate portfolio in the US. 

Please reach out if you are a lender or can connect me.5 Bed 2 Full Bath & 2 Half BathExisting Mortgage ~$550,000Home Value ~$1.1+ MilSounds like a great deal.

However, after receiving the survey results, I discovered that the house is located less than 1 foot over the sublot line (see attached image).Here are the options I’m considering:Rent the current house for market value (~$1,500–1,600/month) and convert the detached garage into an ADU to rent for ~$1,000/month.Relocate the house to split the lot, then sell the newly created lot (~$100,000) while renting out the existing house.Relocate the house to split the lot and build a new home on the second lot.Demolish the current house and garage, split the lot, and build two new homes.At this time, I am uncertain about the cost of relocating the house.Questions for the community:Has anyone faced a similar situation?