Yes this is nothing new to the big boys & girls out there, but new to me as I have only purchase new completed places.This is the current bus. model that worked on my building1-build/buy new & hold(unique duplex like SFR - thus hi quality tenants)2-cash flow-not great but good3-exit by selling as condos (30% higher value than the whole duplex structure)These are the rough number on one current duplex:-150K 0.4 acres land purchase for ONE duplex (an average - extremely hard to find)-300K Build and contractors fee-20K City utilities (can save here w/ tear down-Utililitie in place & easy to permit)-Appraised at 470KWith these numbers there is no deal/money to be made upfront unless the appraisal rises or the land price drops.

Forgot to mention - I would pay cash for the property and I have factored in 10% annual maintenance/repair, 5% self managing cost; $1393.00/year property taxes, insurance, utilities, and 10% vacancy/bad debt/collections into my spreadsheet.

Remember there is a thin line between a kitchen and a utility room.

I'm talking about property that had no chance to cash flow at $50k - 1950s built gang infested, falling apart where owner pays all utilities.

I've read that they typically pay utilities like heat and garbage, but a lot of people mention that they themselves pay the water bill and sewage bills which can get expensive. 5.

Tenants pay all utilities, water, etc.I am paying all cash for this property.

So, having said that...this one's a bit of a twist, given that it's classified as a Condo, however this space can be utilized as an office facility.

I firmly believe that investing is a team sport and at this point in my investing career would be very open to the idea of partnering with more experienced, like-minded investors.

You're going where you don't need to go at all, a sale contract is all ready made for a buyer to acquire good title, free of encumbrances, that would mean that you are to receive the full bundle of rights of ownership unless there are restrictions to title like a utility easement or HOA restriction made of public record.

Do you want to own the property OR are you just after a return on your money that is steady utilizing a real estate platform.If you own the property, who will manage it?