IE at the time if you built on all the hundreds of thousands of lots there you would have perpetual grid lock not to mention water quality etc etc.

One suggested paying a GC a couple hundred for an estimate which sounds good until you realize you might do this 10-15 times before you buy a deal then you are spending thousands on estimates!

The listing MUST be on the local MLS.There are hundreds of MLSs in the United States.

If it were more than three years ago and everything else on their application was perfect, then I would consider it.However, I've never seen that in 15 years of management with hundreds of rentals and thousands of applications.

As an accredited investor you have access to hundreds of new potential syndications every month (and crowdfunding deals which are the same thing except are allowed to market on the Internet).You may want to start off on a site like CrowdStreet or FinResi , where you can view the variety ( different types of asset classes, strategies, stances) and start to come up with your own method for looking at deals (which matches your unique, personal  risk tolerance, financial situation and financial goals).Thanks Ian.

Also, when picking a lender, make sure you pick one that is very familiar with BRRRR strategies, has access to hundreds of lenders to shop the best Hard Money and Refinance partners for you, and that can give you advise on the front end.  

I don't know who Tom is but if you're paying more than a few hundred dollars for it I wouldn't bother.

But it can be done.I only recommend investing if you can find a quality property manager, one with at least ten years experience managing hundreds of rentals and really good reputation.

@Jorge Vazquez I've done a scope on every property I've bought before closing...I'll never buy a property without a scope.To me, a few hundred bucks to potentially save myself a $15-$30k capex (or more) is a no-brainer. 

Spending a couple of hundred dollars can reveal major issues.