Your sister's story isn't sexy, but that is how wealth is built.

Did lot confirmations got 3 buildable lots and built new homes.. that took another year.. but in the end it was a profitable venture. 

It will be short lived depending on what's being built in your neighborhood.There are always reports out there that show high appreciation and high cash flow markets.

I built a spreadsheet so i can input the numbers I find during the due diligence period.

The inspector pointed out structural issues, potential plumbing issues (hard to confirm since the water was not on but scary enough) since the house was built in the early 1900's.  

Following this thread, The prices of established cabins are very high in this market and I am exploring the build route.Anyone have experience here in buying land and getting a cabin built? 

We identified the problem areas, built a great team, and developed a system to win the Detroit real estate game—and we never looked back.

Here's how I break it down:Analyzing the Current Property:First, consider the equity built up in the current property.

I got into real estate investing 5 years ago and have built a portfolio of rental properties in the area.

Seeing you are new to real estate, get a foundation from others in your area and see what works and what does not work.