@Mike Oconnell Good property management is more art than science, so sometimes it's a good idea for PM's to be flexible.

Wow this is a entire science.

I've seen so many newbie investors end up buying land that is unbuildable only to have sell it later at a steep discount once they realize they can't even afford to keep up with the taxes needed to keep the land.For future readers, one common way to evaluate and price land is through the Land Residual Method, which is pretty much a simply formula:Land Value = Developed Value (highest and best use after development) - Cost of DevelopmentIt requires a little work on the agent's part to dig into what the costs and potential developed value will be, but I wouldn't consider it rocket science.

We look for older properties in good locations which are nose against obsolescence and determine if we can modernize and rejuvenate them.  

The house is a 3 family that will be gutted to the studs and rebuilt with beautiful finishes for a modern/contemporary look.  

These are the top things we change:Add a bathroom if you can near existing plumbing. i.e. add a Master Bath if a wall is shared with the hall bath.Update the kitchen: cabinets, fixtures, appliancesUpdate bathrooms: cabinets, tile, toilet, bathtub/shower if neededPut in pergo or wood floorspaint everything inside and outchange any non-modern light fixtures and fans.Don't pick fancy and expensive stuff - you start to get into personal tastes.

It is not rocket science.

You can take online classes on all aspects of building science.

It needs floor refinish and paint on the main level and some light remodel/modernization on the baths.

Interested for finance or invest in any of the following:*Real Estate*Resorts*Restaurants and Food Courts*Schools Science research*Shipping Cruises & Shopping Malls* Manufacturing firms*Sports Facilities*Constructions firm*Resorts & TourismDo communicate me via email only with attached projects summary/business plan.