Why not look for the fourplex now and just eliminate the whole "renting" phase?

My parents then moved to another new neighborhood where they got in during phase 1 for $330,000 and had it recently appraised over $400,000 now that the neighborhood is fully developed.

I'm close to a point where I can start investing more seriously, but definitely feel like I'm in the "don't know what I don't know" phase of learning.Is there a Boise/Meridian area real estate investors group that meets regularly? 

Construction has already begun and is 37% phase one complete.Current appraisal is 977 000.

I think this is possible good idea to consider but the main problem is how to find an inspection services or your city inspectors who are willing to go to China to inspect in every necessary phases.

If you can live with yourself if that happens, great, start lower...it's almost always easier to raise your offer later than it will be to lower it (although there are ways to tie it up quickly with a high offer and then renegotiate the price during the due diligence phase, although that's an entirely different thread...)If you absolutely "must have" this property don't mess around with a super lowball offer and go with something higher.

I certainly will Nicholas, I just got in contact with a 203K contractor and on Monday we will meet at the property.I will let you know how this first phase of the process turned out.

You may want to check for flood plain issues and possibly have a phase 1 environmental study as well.

A good broker knows these lot pricing/lot finishing and residual land values cold, if they don't: move on.There are many structures available for phased take downs (for you or the builder), and/or long term escrows/option agreements that are outside the scope of this answer. 

Hi All,Just getting started with the research phase on REI.