Even with a househack, you'd still have around $2K a month in expenses that aren't covered (assuming you occupy the cheaper unit).

Most builders are only able to make a profit because they build many homes at once and get materials at a steep discount due to the quantities they order.It's not like flipping, where the property is there are you are just improving it, you will have many costs such as connecting the property to the local utilities which could be inexpensive but can also be (more likely) crazy expensive, it all depends on the land you purchase and the proximity to current local utilities.The lure to jump in can be hard to resist, but take your time and find the right property. 

Set up phone number4. send out mailers using click2mail5. buy few inexpensive lots (to get my feet under me)6.

If ARV is $103K, and someone has to sell it retail eventually, there's about $9300 in expenses to selling it. 103K-9.3K is 93.7K, for something acquired possibly at $83.5K + a few thousand in closing costs.

Hi @Jake Berwind, I'm not sure about Florida but in California you can hire a Transaction Coordinator fairly inexpensively and they will provide you with all the necessary contracts, disclosures, etc.

Municipal development plans don't allow for small inexpensive lots anymore, one to three acre minimums are common.

That's a pretty inexpensive fix and should at the very least bring in more buyers.

. • Demo• Minor plumbing & electric• New drywall and durorock• New tile• New flooring• New Vanity and Faucet• New exhaust fan• Paint• New baseboardsWhile most of this is inexpensive to replace, installing the tile can add up along with materials.

If it were my stairs, I would have regular oak treads put down and then have an inexpensive runner tacked into place to protect the treads and provide better footing. 

(my latest was a 5 bedroom,   $920 guaranteed rent, $500 clear cash flow on $60,000 investment) I'm just a retired architectural designer, but I found a unique WWll city with below market and inexpensive homes with huge demand from gov sub Urban dwellers!!!