If you have time, pretend to be a renter and visit the properties to see how yours compares.

I suggest you compare current rent price to lease rent price.

You will start off with writing and establishing goals and comparing that to where you are now.

I’m not seeing any comparables listed or sold in the area recently in this bad shape. the last lot I posted for sale I undervalued it and then asked for a offer most saying “well it’s posted for 20,000” even though after talking to people, I started to see that they would happily pay more than that.

I use a PM because…I don’t want to get sued for a fair housing violationI don’t have time to keep up on law changesI have no real idea of what a property could rent for compared to someone with 1000+ rentals under management.I’m too nice to charge late fees, or increase rent maximum amount each year. 

The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here.

Research comparable properties in the area to gauge pricing, rental rates, vacancy rates, and demand.Property Insurance: Obtain quotes for property insurance to understand the potential costs and coverage options.Survey: Consider getting a property survey to confirm boundaries, easements, and encroachments.Due Diligence Contingencies: Include due diligence contingencies in your purchase agreement to allow time for inspections, assessments, and resolution of any issues uncovered during the process.Risk Assessment: Identify and assess potential risks associated with the property, such as market volatility, tenant turnover, maintenance costs, or regulatory changes.Exit Strategy: Develop a contingency plan or exit strategy in case the investment doesn't meet your expectations or unforeseen circumstances arise.By thoroughly conducting due diligence, you can minimize risks and make an informed decision about purchasing the property.

Run some analytics and compare a few similar markets. 

The prospective buyer should compare the interest paid over the life of the loan.

New construction is a whole other animal in its self and is in no way comparable to flipping.