Outline of the deal:SF: 93,461PP: $4,050,000 ($43.33psf)Capex: $508,000Title & Survey: $16,000Broker's Commission: $101,250 (2.5%)Total Acquisition Cost $4,687,654 Equity $1,875,016Loan Amount $2,812,593Loan Costs 1.00%LTC 60%Interest OnlyInterest Rate 3.50%Going-in Cap: 7.73% at 66% occupancyGeneral Vacancy: 8%Market Rent Growth: 3%Exit Cap: 8.5%3 Year HoldResidual: $54.64psfUnlevered IRR: 9.1%Levered IRR: 15.5%Equity Multiple: 1.47

I had to get a current survey map created even though they were identical to those on file, but I understand why they needed their ducks in a row.

From what it sounds like, it is one single tax parcel and you would need to go through the process of surveying, platting and subdividing through the city. 

Just a suggestion - it would be great if BP could actually put out some sort of legit but simple online survey on this question.

proceed with survey/petition/subdivide ...... and if the subdivide goes well, do I sell off the land and pay the house off?...

If everything is still a go at that point, then it makes sense to perform the physical inspections, surveys, contractor bids, etc.

You would want to get a surveyor to come out and survey your lot, if there isn't already a survey on record at the county.

Below is a detailed list of repairs and costs.Repairs and Costs$120,600 Purchase price$3,000 closing costs$950 survey to split lots$800 drywall patching and repair$5,500 for new water meter and installation$500 wire fence$1,600 new paint$300 plumbing repair$250 new carpet$600 new laminate$100 gutters, drainage, french drains$500 front porch$600 new kitchen sink and countertops$2,000 other misc costs, like new blinds, touch-up paint, gravel, necessary tools.Total Costs$137,300The SaleIn May, our tenants moved out and we sold the rental home for $145,000 after finding structural issues.

@Eric LeonBest Sources For Data:Broker Package DataBestPlaces.netCity-Data.comCensus.govFactfinder.census.govcensus.gov/programs-surveys/ahs.htmldata.census.govStateLocalGov.netSpotCrime.comWalkScore.comDeptofNumbers.comDataUSA.ioBea.gov (Bureau of Economic Analysis)Bls.gov (Bureau of Labor Statistics)Indeed.com (Jobs)NewGeography.comNeighborhoodScout.comCrimeReports.comFamilyWatchDog.usGeometrx.comSocialExplorer.comCostar.comColliers.comIrem.orgZillow.comGoogle Earth / Google Maps / Street View

I've been calling over the past month but each time I've been told until it is assigned to someone there is nothing they can do.Here is a tip on WaMu, if you call the Loss Mitigation (866-926-8937) area and are prompted for a survey before talking to someone, hang up and call back.