Karen - A quick calculation that i have seen work multiple times is this (assuming that demo, construction costs and sales prices are not exotic or out of line):If your total sales revenue is 5-6x your land cost, you probably have a deal worth taking a hard look at.

We pumped up sales with exotic mortgages hoping that the ride would never end.

FL, CA, and other hot areas are already taking a big fall, with more to come as all these exotic loans come home to roost.

I have posted a few of my deals and look forward to learning from all of you.My hobbies include: foreign languages, keeping exotic fish, formula 1, modified exotics; and would love to get into amateur Porsche racing, scuba and light aviation ... maybe even some big-game hunting.See ya around!

The dangers of exotic loans should be apparent.

This baby has gotten me more free valet, drinks, VIP nightclub tickets, exotic car parties,  and connections than any expenses I've had with it.

There are a couple properties going for $200k, but those are exotic anomalies.

If you want to get exotic. 

If the situation calls for something more exotic or specialized (e.g., you want to include specific provisions not covered by the standard form), you'd be best off with an attorney. 

Purchasing subject to existing financing and debt are not exotic RE transactions.