If it is something like a shed or garage, talk to them. 

Can anyone shed some insight as to how these letters should be addressed if you purchased this note through your IRA?  

I plan to go through each property individually, providing before and after pictures and the success and failures of each property.I would like to start with my first flip in the Loch Raven area of 21239:Brick row home, 1200 sqft, 3 beds/ 1.5 bathPurchase price: $50,000.00Estimated rehab costs: $40,000.00Estimated ARV: $150,000.00Actual Rehab costs: $45,109.94Sale price: $145,000.00Profit: $30,389.34Pre-Rehab Photos:Repairs Completed:Replaced baseboard heating system with complete HVAC system and ductwork throughout the houseComplete kitchen rehab to include granite and all refurbished SS appliancesComplete 2nd floor bathroom rehabPainted entire houseRefinished hardwood floors to a darker colorInstalled all new ceiling fans Replaced all windows and doorsComplete gut and rehab of basement(realized after purchase black mold covered 90% of the basement framing) to include recessed lighting and all new carpetRehab of basement half bathRemoved shingles and replaced with new siding on the shed with electricity.

Would love to hear from someone local who can shed some light on this!

I'll try not to be a Debbie downer but try to shed some light on why the numbers might need some work.Purchasing a house for 40k that is listed for 130k is HIGHLY unlikely. 

Fenced in yard with a small shed for storage.

I'm currently exploring the idea of sheds in my parks.

I have a opportunity to pick up a property that currently has a single wide trailer on it and a nice little shed.

Whether that hidden value is an extra room, shed or garage that can be turned into an another rental unit or they aren't able to see what the exterior space can be turned into.Some of the best opportunities are those that have been on the market more than a few months because the seller starts to get concerned that their property isn't valued as high as they originally thought which gives an investor the opportunity to purchase at a price that the investment makes sense.

I'm curious if someone can shed some light for me.