Depending on the repair (reroof, new electrical system etc) reputable and solvent contractors can be open to being paid at closing.There are also third party companies such as Curbio that can be a fit for this situation.

Both homes are owned by the same family that have hit financial stress and they dont want it to go into foreclosure.

If not, you’ll hit them with collections after they’re out, when they have no leverage.As for discussing the eviction don’t.

Thanks The older homes usually require some sort of updates to the plumbing/electrical to get a decent rate if you are wanting replacement cost.

.: @Steve Chaparro Love the detailed plan—your numbers look solid, and targeting 70-80% of ARV with a $600K purchase and $200K rehab to hit a $1M+ ARV is ambitious but achievable in LA if the market holds.

Quote from @Brandon Robertson Quote from @Denise Evans: Do NOT sit by and let him build and then hit him up for a "better price."

Loan to value ratio: The higher the loan to value ratio (LTV) is, pricing takes a hit.

@Shafi Noss Improving the land would be the simplest since there's already a driveway, electricity, and an old water well that needs to be jetted again.

Does this seem like a good market to hit in y'alls opinion?

As a landlord you might want to go with a cheaper "named perils" policy instead of a comprehensive homeowner policy.I guess the good news about your HOA fees is that you're not being hit with an assessment in addition to higher fees.