My guess is that the only value in the property is in speculating on appreciation. 

But I’m just speculating.

The vast majority appear to be on slabs.I speculate it's due to soil composition or water tables, but I wonder if anyone can clarify this for me.

Because, they are going to have to be able to recite that info to the co-owner.Since I don't have experience on the contract end, I'll only speculate that you would be electronically sending the contract, which would already have the local owner's signature to the co-owner and having them electronically send it back to you with their signature.Not too complicated.

Even if there is no deal to be had, this is an oppurtunity to educate yourself and fan that little spark of motivation into a raging inferno.Here's what I'm speculating.

I don't want to include appreciation in value because I don't know how to estimate that, and any attempt to would be speculation.

So couldn't look inside my be already demoed but don't want to speculate.

Can't underwrite to that though, because markets cycle and those troughs will kill you if you speculate on low economic vacancy throughout your hold period.Loss to lease is subjective, but I start by setting rents in my proforma that I believe are achievable at the end of the first year. 

I don't have the $400 to spare on a purely speculative possibility, and an offer that might not even be accepted in the first place. 

I can only speculate as to why he would show up but not walk in to have his day in court and I think it is because he only showed up hoping I wouldnt so he could go in and get the automatic win by default....its the only thing that makes any sense to me.