If I was in your shoes I would definitely be trying to do this...I would think who out there in my area has done this kind of thing before and then when you have the land tied up ask them to partner with you on it.. yeah it will be less profit for you but if they walk you through the whole process and you still make a good chunk of change whats wrong with that?

I have a nice garden that's not too much to maintain, lots of rose bushes the tenants can cut and bring inside, flowering vines on the fence (and take care of any repairs/issues around the building - real "pride of ownership").

Account ClosedOr another way of looking at it... if there is a cap rate of 10% and the expenses just rose $11,000 per year in increased flood insurance premium, then the value of that property just declined $110,000.I would be EXTREMELY cautious about buying any flood area property as the costs are slated to rise in successive years per the law, and I would be looking to get out of any flood property now before rates increase every year down the line.There is the possibility of getting a personal flood certification that shows your property not in the flood zone, but that costs money and must be accepted also.Another alternative is to raise the property.

Read some of these answers and your reactions, lol.I've been a real estate broker and investor/flipper out here in CALI for 31 years now, and I'm in the shoes of your contractor, so to speak.I feel like I need to say a few words on behalf of both sides here:For your sake, putting that much money into a project with this much risk is why it has the potential to pay such a high return.

This doesn't particularly deal with tips for rehabs but Lifehacks are pretty neathttp://lifehacker.com/I just found out the other day I have been tying my shoes the wrong way my whole life.

Some people in the higher price range may have higher expectations of your first impression which may require a suit or at least a button up shirt, slacks and shoes.

In your shoes, I either would have to be satisfied by her assets and guarantee (if deemed applicable), or she would have to go through the expense of placing the funds in trust and having the rent transferred each month.

i was in your shoes last year. plenty of mls deals, no money. so i refied one house, pulled money out of it to buy the next one. that's your cheapest option.be thankful that you have equity. the HML are 10% and up. why pay that much if you can get it for 5 or under?

I have a ton of realtor friends and have been in those shoes myself.

Good luck Tyler I will be in your shoes one of these days.