I can understand the desire for new but isn't there a large land cost relative to the value of the overall home?

One became an enterprise, one became a veterinary office, one got demo'd and had 10-15 townhomes built on the property, and there is one in my neighborhood that has been for lease for a couple years now and still vacant (not sure if the owner is really just land banking it, since he owns the adjacent property too, a former medical supply store).All that being said, I do not see this property as being something that will be easy or cheap to re-lease.  

Perhaps you are getting the California "discount"I may be missing something, but from the pictures the shingles look to be in good shape.

Imma add this to my list of reads......I was just on a IG page of a guy that was basically showing you how to replat to increase the value of the land. 

Does anyone have experience using an FHA loan to purchase land and then build a multifamily on the lot?

Has anyone worked with Brent Bowers or their wholesaling land course?

A SFR was built in 1947 and required renovation.The 2nd parcel, which is right next to it, is an vacant land, no address associated to it.My initial thoughts are:1.Purchase this property and rent the house after minimum required updates 2.

I landed a couple of great properties that way.

Discounts land anywhere between 9-12% I have found.

On top of that being that the property was occupied (delivered vacant) it was in great shape and didn't need that much work to bring it up to market standards.