The question I'm up against is what private money is going for these days for a build with this much room for upside.

So they would first payoff the first mortgage, if there is a second then $ goes to the second and if anything above that goes to any other lienholders or the homeowner.There are a lot of people who invest in 2nd mortgages because they are cheaper than a first, but in Ohio (not sure all counties) you have to pay off the first at foreclosure so if you do not have the money to pay off the first you are out of luck. 

You need a firm estimate for the remainder of the work as your funds are limited (like most people who don't have an endless amount of money). 

Hello, my name is Kamarye Hodges and I am a broker, I wish to gain insight and experience. Hopefully I could even provide some sort of value to this group and most definitely do business with some of you. I like to bu...

I would think in most situations the original owner is in financial trouble, probably delinquent on their mortgage and facing foreclosure.

Make sure you buy it low enough to make it worth the trouble.

@Ketch Bays I started with the exact same amount of money.

They saved up money.

Buyers have trouble underwriting deal with current rates, so price goes down.  

Definitely saved a lot of money.