Build a real estate network, evaluate potential properties, and use the 50% rule to ensure they cover your mortgage and leave positive cash flow.Good luck!

Rent out both units to cover the mortgage while we subdivided the land and built properties to sell on the back half of the land.Option #2: 1 year - Same as option 1, however, instead of building more units, sell off the lots to builders.

That is $500 easy savings by shopping around, but make sure you are adequately covered. 

Yes, there are things insurance won't cover, but there is ALWAYS risks with investing.Here's some copy & paste advice you may find interesting, hope it helps!

I've also read there are options where you agree to pay the first $7000 of repairs and the seller cover the rest.

So at a  minimum you need to be firm that the rent is enough to cover your expenses (including insurance, PM fee, capital reserves for repairs)I'd go on Facebook Marketplace and on any Facebook Groups you find for KSU Housing and post it there (at a rent rate this is actually covering your expenses) and see if you get response. 

The main question a buyer has is this - "how much of my mortgage will this cover"

And in my opinion, his book covers everything a newbie needs to understand: from asset selection, to evaluating sponsors, to capital structures.

If your purchase price (always the largest expense) plus the rehab estimate (the second largest) total no more than 70% of the ARV, the remaining 30% must cover your HML charges, agent commission, property and hazard insurance, property taxes, title insurance, escrow, staging, all else, and your profit.

Rent out both units to cover the mortgage while we subdivided the land and built properties to sell on the back half of the land.Option #2: 1 year - Same as option 1, however, instead of building more units, sell off the lots to builders.