One of my leads is a fixer upper on a nice plot of land. How do I come up with a fair offer? Does the fact that there's acreage affect the pricing?

They evaluate loans normally yearly, some have renewal fees if they have to spend time on it.

In short, if you can evaluate a deal as an equity player and its the right deal you will be compensated both in fees/interest and in an equity split.

Josh Murr I use Property Evaluator, and it works great for me.

Remember, just because it passes a rule such as this doesn't mean it is a great deal, it just means you can devote more energy to evaluating it further. 

It's really hard for me to evaluate its price.

I would think as you start to acquire more and more properties, you might want to re-evaluate things but I would definitely consult a lawyer for a more in-depth conversation.  

Until I reach that I goal, I am educating myself on evaluating deals.

We are evaluating the options now and continuing the negotiation.

The cons of this are that many residential neighborhoods don't allow for rentals, so if we tried these areas and decided it wasn't for us, we would then sell as a traditional home as opposed to a renting it as long term rental or vacation home.I also realize I could rent for a period of time and evaluate but again, then I'm paying someone else's mortgage that could ultimately working towards my own.