What was your goal when purchasing this property?

Hey all - Stumbled into a new SFR net lease strategy after purchasing my first self-managed SFR in South Florida.

We found one on BizBuySell and ended up purchasing it for $190k.

Well, my original SFH purchased in 2010 still has its original S8 resident.

Sellers rarely mind the low deposit and extended closing period due to the nature of the property, or at least they can be made aware of the fact that their lot has issues that will take MY time and MY money to solve and then they come around.My terms on the flip are: Minimum 10K spread between purchase and flip value.  1-2K deposit upfront to hold the property for 7 days then the deposit becomes non-refundable after the 7th day and the buyer has the same amount of time that I originally negotiated with seller typically 8-12 months(its a purchase contract but because of contingencies its essentially an option).  

The home appraised for 1.2M, the deal is anything the home sales for over 1M after the fix up he will split with me minus my costs. he will hold the home while I do the renovations, no home purchase necessary.My question is how do I find the ARV on a high end home so I know if this is worth pursuing? 

Seems like too much work for too little return UNLESS you own the property, or perhaps have an option to purchase the property allowing you to capture any increase in value.   

First time buyer looking to purchase a multi-family as an investment property. 

Purchase price: $715,000 Cash invested: $297,000 Current Listed Price: $830,000Original Listed Price: $950,000 (4/13/2024)It has been reduced $120,000 in the las 6 months and hasn’t sold.

Is that process too complicated, yes, but there is nothing in this decision that will prevent a tax sale purchaser in MD from reselling at a profit after obtaining the property by foreclosing the right of redemption.