I submitted an offer for a property that is vacant,the offer was made in Feb around the 13th and the agent did not respond to the  written offer , a week later the property was listed as pending and now the property is back on the market as of 03/02/17.So now I am looking further into the property and find that the property is in demo court and has 50 code violations from 2011-2017.

That means that the land is 33% of the total lot value, so in my example, you allocate $50,000 to Land Value and $100,000 to Building Value.Fees to demo structures are added to the land basis.Fees to rebuild or fix structures are added to the building basis.Penalties and fees are a non-deductible expense (you never get a deduction for breaking the law), but any interest added to the account can be added to basis.Legal fees - this is a tough one.  

The only real estate experience I have is being the demo guy for a home flipper during high school.

I think we'll be focusing on demo and fix-up in the near term, but we do need to make sure to fit time in for networking (and using this site's resources!)

And, of course, we move forward with a client demo and we review inventory with you before you necessarily have that conversation with the lender.   

-lot cost-closing cost-utilities cost to disconnect and reconnect-demo cost-permit cost-architect cost-build cost-realtor commission for resaleFor anyone who has done a deal like this before, what is the minimum profit you would need to make to consider this a deal?

And on placement of things: sometimes all you can do is work out the best compromise, short of going way overboard on demo and relocation.

@Joshua Yang here's the link that will take you right to the search:  http://recordersoffice.hamilton-co.org/hcro-pdi/Co...I'm a real estate agent and can assure you that the MLS does NOT show who has owned a specific property, at least in Cincinnati.

We demoed and redid the bathrooms and kitchen, knocked out a few walls, replaced all the windows, all new floors, new lighting and electrical, paint, roof, etc.

So I'm considering buying that boarded up house (and maybe the one next to it too) located in a good area of town not too far from me... any pitfalls I should be aware of taking on a full-demo aspect of a deal and then new construction?