Assuming that note was created perfectly without breaking any new laws, you have to think about discount rate at which you will sell.

As a comparison with how crazy it is, there is a lot near Gandy and West Shore asking $700K and  they are tearing down perfectly beautiful houses on Davis Island for $650K to build $1.5million + dollar homes.

Andrew Hall perfect!

I feel perfectly happy to take advantage and wait a little longer, but the desire to jump in is there. 

(I am a Realor in Greenville, SC)  But in a perfect world, I don't want to have to sell our current house because I owe so little on it, the mortgage is so cheap per month, and think I should rent it out to help supplement the mortgage of house #2. 

Initially, I thought this was the perfect scenario for a buy and hold investor - acquire a property that is already rented and cashflowing, no brainer, but this hasn't been the case.  

We now own two PERFECT properties and we are getting involved in a commercial development project-- that's tremendous in 8 days.

Turnkeys are never perfect at time of inspection, so you'd be missing out on free repairs by not getting one (they will repair what the inspector finds before you are required to close).

But, if the cap rate is 9%, the multi unit I'm considering should be worth 277K in a perfect world.  

Hello, I live in a small town in southern Alabama (Greenville) and I have been looking for a while for a real estate investment opportunity, in which I was going to fund the flip by taking a loan out on my 401k, I finally found the perfect house, it's value is 78000.00 the sellers are asking 29000 with a little work it could sell for over a 100k which I can do all the work myself, I have flipped one other property in Houston and did all the work and made 40k.