As for timing, I really don't see the benefit of waiting unless her actively managed funds are vastly outperforming the great index. 

(See the Chris Feltus's article "The 70% Rule").And now you have to learn how to look for builders willing to buy the house and make repairs.

It's amazing to see the progress that the area has made.Do you have any before and after pictures?

And a lot of people seem to be doing spec development, which I am not sure there will be critical mass in many markets to really see the appreciation, rent levels, and at this point occupancy to achieve proforma returns. 

Highlight the neighborhoods within 2 hours from you and see the median pricing of the neighborhood.2.

You really have to dig deep to see the quality of what you're purchasing and then base the value on that relative to what you already know/have.

But we'll see.  The

But I urge you to use the speculative mind I know you have and see the different outcomes.

I’ve called about five other contractors, told me they could do the job, only to back out when they actually came to see the place.

No cost to either of us and I see the money right away.