Do the math at a 6% loan rate.There's a reason many apartment buildings have been converted to condos and sold.

Most of the industry is blue collar work and some of our tenants have their rent paid by their corporate HQ, our all in cost for a new home there is $250k and we are bringing in $3k a month in rent and have had zero vacancies. 

Cost segregation utilizes the MACRS approach.

Make sure your rehab is "renter" cost rehab. etc. 

This helps you stand out from the typical lowball inquiries the agent may have received.After the walkthrough, if you’re ready to move forward, explain your reasoning.

If one tenant has been in there for that long, there will also be some serious capex and turnover costs.

Part of the reason coastal values haven't quite scaled to heights of neighboring states is the remoteness and lack of winter sports and high end amenities and entertainment, but that doesn't mean trophy estates, ranches and homes don't exist.

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

There's usually a good reason why a company is cheaper or more expensive.

Another good thing about that is that you can do a cost segregation study based on the percentage of the house that is being rented to your house mates.