If you catch these at the pre-foreclosure stage as slow pays or initially in default all the better as the bank has less in collection expense.You can still work out a discount but even buying at the payoff it can be profitable depending on the property value.You can practically force a lender to sell as it can fully indemnify them as a full payoff as demanded, continuing with a foreclosure becomes a rather vengeful act by the bank to punish a borrower, they don't want to go there.

If you pay retail, you'll be looking at 500k to 550k depending on area and lot. 

You can get a 3/2 on the MLS that can fetch .8% of MV per month, should net $100-300/mo depending on PM situation.

The typical price for land development varies widely depending on the scope of the project, the location, and the type of development (residential, commercial, etc.).

@Ash Gowda - typically a 1.3-1.35 dscr.  5/7/10 (all dependent upon the lease term and re-ups); Rates fluctuate but for now from low to high 6's fixed.

Depends if you are worth millions already than 40k is like 1k but likely do not need their course.

If you renovate for a flip and then decide to BRRRR you will likely get less than you expect because the finishes will be too nice for a rental (depending on the neighborhood, it could work where you are in that price point).

With 3 properties already, you're definitely not "new" anymore ;-) Doing a refi is very possible (depending on how much equity you've accumulated) to do those types of things...the issue can be the tax ramification that you face if/when you do it.

And this also may be state dependent, as my  FL property is covered under a different carrier who has different available maximums for liability.

I understand that everyone has unique goals, and responses will vary depending on those objectives.