Foundation and utilities are there, zoning would be cool with that, and if I were to build that and sell it or refi it, and keep it as a commercial/residential rental it would be much more profitable.

Here's the basics on the house:--4000 SQFT (including 1000 SQFT finished basement--6yr old central unit and unknown age second unit--excellent foundation with no to very minimal settling--split level with large bedrooms and large bathrooms--1.5 acres lot in a good neighborhood with a few million dollar homes a couple of streets over--nice but neglected landscaping--built in late '70sFannie Mae wants $179k but it needs everything on the inside.

Sounds like you have a great foundation and are in a great position to expand.

Thus, you'd be paying over and over again for the same roof, foundation, HVAC, and plumbing system, although the warranty does cover built-in appliances in each unit (you pay extra for refrigerators).

Mikeit is an option thats still on the table. i am not sure how people are in this market about lease options and contracts like that..plus alot of my contacts would be through MLS b/c i have no foundation, help, or contacts of my own so i would also be dealing with "regular" agents who don't quite understand the process and won't be able to give the seller an accurate idea of what the heck is going on. i need to first find out how to have no budget but still find sellers in preforeclosure. i need to find the business/legal papers and subscribe to that although i am sure the other investors have that lead as well. another idea that i saw through Armando Montelongo's book was to contact divorce and insurance lawyers to tell them I am interested in buying their clients homes.

Hey Arn, welcome to the group.Sounds like you are ready to get started, this is a great place to gain a solid foundation for your REI plans.Talk to you soon

Looks like you have a good foundation built.This is a great site for all your questions and experience.Talk with you soon.

A college degree, especially one in finance, ensures credibility, plus, it provides a very solid foundation on which to build upon.

I don't see any signs of settling with the foundation.

Like a bad roof, obvious mold or water leaking issues that could cause mold, known asbestos removal requirements, foundation problems, furnace or boiler replacement.