I think if I make this house really cute, I could potentially get $240K ARV.

If an in-person visit is not feasible, we can easily arrange video tours to accommodate your schedule.

There is a single family home in front, and in back there is a guest house/loft above a garage.

Happy to discuss this further on what might make the most sense for your end goal.If you are renting right now and starting your path in real estate investing, as said above, I really do like the house hacking strategy for your situation.

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

If it is a high end housing product you may have to use a designer because they have access to some material/finish suppliers that are otherwise unavailable but that tends to only be for the highest end housing deliveries.

Quote from @Vid Vin: Was the house really for 2000 dollars?

My plan is to start house hacking.

Ask your employer if you can have your pay split up into three deposits, one to investments savings, one to your checking account for personal use on a daily basis, and one to an emergency account you can tap into so you don't have to tap into your investment savings.

Dumb question - but are these auctions online only, or in-person?