Both are more than adequate in condition and function, yet the inspector failed both houses by the tune of 3 full pages of items.

@Michael Lauther & @James Vermillion I am rather cheap by nature so I don't want to give away 8-11% of my profit margin for someone to manage rentals that have had long term renters in them.

You just need to keep a written record/log with information such as: Where you drove to/from, how many miles it was, date, reason, etc.Here's some more info:http://www.biggerpockets.com/articles/2218-documenting-business-expenses-adequately

Back to my point, the discussion and request seem to be very broad in nature opposed to specific, which I think also illustrates a lack of acute understanding of those attempting to engage in a discussion about notes.

Then again, I don't like any natural oak except flooring.

Jonathan look up the taxes and divide by 12 to get monthly tax costs.Look for the HOA docs to see if there is an assessment and how much.Usually if you find a listing on MLS in that subdivision there will be some houses and it will list association dues monthly or yearly.For instance if taxes are 1,000 and HOA 1,500 then you have about 208.33 a month in costs.If you buy for 4,000 and hold for 2 years you have to get at least 9,000 in 2 years time to break even and even more with closing costs etc.That money will be dead not generating a return for you.You also need to know the soil sample and build ability of the lot.This will be a factor from who buys from you if they want to build a house.On the MLS you can see what developed lots are selling for.Is this lot developed and cleared with pipes sticking out of the ground or does it still have all the trees and uncleared and ungraded in it's natural state??

As I connect with more and more investors, of course naturally the topic of partnering up comes to play.

Some people naturally assume (totally reasonable to make this assumption), that if you have a large property, you can sell a portion to someone else who wants to build.

A home office is an area that can be subject to abuse and a surprising number do not adequately document expenses associated with the office.

Dale - "FL - 6 months of each year is spent watching for hurricanes" Does that make you stay away from other areas with other natural disasters, like earthquakes/tornadoes?