You will need to factor in rehab costs, which could easily eat up another $50-75k depending on the condition.

It has caused problems not just with housing, but health care.

If you don't have the additional mental bandwidth, can't deal with stress in healthful way or do not have much time to commit atleast 14 months of focus then do not build.

I have a little hard time estimating a fair market value given these conditions as I don't know how much to discount the value of the house with these issues presented.

If you fail to remove icy conditions from the sidewalk after a winter storm and your neighbor slips and falls while walking their dog do you really believe they cannot sue whomever is the property owner because there is no contract?

Aside from the standard BR/BA count and square footage, I always focus heavily on the listing pictures for any comps I pull in my area - finding a comp that's as close to your property's condition and finishes will give you the best apples-to-apples comparison possible.I also wanted to second @Tim Swierczek's input: nobody in Minnesota likes moving in the middle of winter.  

The demographics and map data don't take the students into account, but they're really what's driving the market.Low property values and ever-increasing student rents are a recipe for a market when you can pick up a duplex in decent condition for $150k, and rent it for $500/bed (that's an EGI of $36,000 annually for a 3/3 duplex).

If the seller misrepresented tenant conditions, consult a real estate attorney about potential legal action.

., buyers and sellers making decisions based on current interest rates or market conditions).3.

Your great credit, cash in checking and savings, and property ready to cash flow are the basic conditions to qualify.