They loved it because they got some play money right away and steady income each month without having to deal with toilets and tenants.

If you play your cards right, this could be a great way to build equity and add value to the property.

2) Many flat fee PMC's charge whether property vacant or occupied, tenant paying or not.Lots of games also played with Maintenance fees.

they are kidding themselves one needs to punch in 50% to 55% of gross cash flow for expenses then deduct your mortgage payments.. anything less than that will not play out over the years.

Defaulted SFR loans - 1st position only (this has been our bread and butter over the years and we will continue to play in this space).

Plot 1: 2024 market value of $6,900. 45x120Plot 2: 2024 market value of $3,800. 100x94I'm still pretty new to the game, so I have no experience with land deals, ground up construction, zoning, things of that nature, and am wondering what the best play is.Sell one to help with acquisition costs and build an ADU on the other?

Well I have seen this come into play - I had someone who has a note in florida that was a non-owner occupied loan and the lender claims the borrower failed to make payments on this and attempted to record the deed in lieu.

Then if you still 100K off, I would start dropping the price in a big way to get to an even playing field. 

It’ll give you an easy to read view of how many of the points raised by Dan H and Chris S play out in a deal. 

A VA loan is a good play, but it needs to be considered a residential property, unless someone understands more than me on the commercial side and knows a way to use a VA loan for a commercial property.