In this approach, the taxpayer calculated that the cost to construct a new building (say, $300 per square foot at 2,000 square feet, totaling $600,000) should be allocated to building and the remaining balance of the acquisition should be allocated to land.Rule of thumb method: Some taxpayers use a predetermined percentage (such as 80/20 percent, 70/30 percent, etc.) for improvements and land.

Most building codes by nature will not approve a home that small, most have minimum square foot requirements.

Conservatively estimating new construction costs as $300/sq foot, the new duplexes could cost about $600,000 each to build (plus interest costs).

I am not here to save anybody, I am simply telling the youngster here's a hand up not a foot down.

Weekends brings in people visiting family or going to a foot ball game and week nights is mostly contractors or other blue collar groups needing a place for the week that is nice but cheaper than a hotel.

As the options come in you or someone needs to analyze their potential, do a drive by, get in to see it, and then someone would need to estimate the rehab - a quick way to do this yourself is ask three different GCs what their price per square foot is on a full gut and average them out and use that price per square foot for your rehab estimates.But let's say you get a funnel started and even analyzers to pick out the gems among the muck, now you need your contractor to come in and give you his estimate and then you need your financing lined up and get your term sheet based on your offer, the rehab, and what you think the ARV will be. 

She was in a similar situation where she was living rent free with her mom but was eager to get her foot in the door.

It bridges to my phone and all I get on my real phone is the sellers real phhone number so you are flat footed talking.  

I am at a point in life I like the lazy river investing strategy not the rollercoaster ride.Love that lazy river analogy, maturation in your investment career allows you to take the foot off the gas and coast a little more than the early stages.Is your debt fund a 506c?

The first deal using a lot of leverage is great as it allows you get your foot in the door!