If there was environmental found the banks that owns the note would likely opt for a short sale so they are not in the ownership chain of title.So see who the lender is on this property for a copy of the report.

And Rehab Costs would be the cost to tear down and construct the new property, including all hard and soft costs that aren't factored into the Fixed Costs.For example, if I have a house that I can tear down and rebuild a 2000 sf property that would sell for $400K; it would cost $100/sf to tear down and rebuild; I'd have $50K in Fixed Costs; and I'd want a 20% profit on the resale price ($80K), my max purchase price for the tear down would be:MPP = $400K - $50K - $80K - $200K = $70KKeep in mind that the rehab costs must account for all of the following:- Site Planning- Zoning Approvals- Utility Installation- Permits/Impact Fees- Environmental Studies- Etc...If these costs aren't factored into the per-square-foot construction costs, you need to factor them in separately. 

I think the trick is being conscious of what risks you are taking with your portfolio.

For instance, an environmental issue or one that burnt down.2) The county does not care what the property is or looks like.

Make sure there's no environmental issues. 

Even if you can't stay that low, just staying conscious of the low budget all the time helps.

They choose to participate in a program with special diet meals, and it may work well while they are eating those restrictive meals, but unless they consciously change their eating habits they are mostly likely going to gain weight again.

My wife and I are making the conscious choice to delay purchasing the home we want until our real estate has grown enough to support it. 

On the other hand buyers need to be conscious of the reality that ads will never change the product, but clever ones change how we value it.Advertising is everywhere in the realm of real estate, and knowing how it works will lead to smarter decision making, and ultimately success.

_r=0The Supreme Court’s Disastrous Misreading of the Fair Housing ActA decision endorsing ‘disparate impact’ analysis will turn a law meant to prohibit discrimination into a vehicle for race-conscious housing decisions: http://www.wsj.com/articles/the-supreme-courts-disastrous-misreading-of-the-fair-housing-act-1435707270More Millennials Are Living in Single-Family HomesFannie Mae report and commentary find that millennials favor living in single-family homes, whether they buy or rent: http://www.inman.com/2015/07/01/more-millennials-are-living-in-single-family-homes/Moody’s Analytics: Single-Family Rental Growth Will AccelerateSingle-family home rentals since the housing bubble burst nearly a decade ago have seen massive growth, according to a new look from Mark Zandi, Moody’s Analytics’ chief economist.