@Joe Gore , can you be more specific? 

Originally posted by @Joe Fairless:@will @Will Barnard nice work on finding it before closing!

Joe Gore

I have recently moved to West Texas where the oil boom has created an opportunity for to me go into business for myself so I have started looking into the LLC and insurances required.I have researched land, home prices, and labor/material cost in the area and there is definitely a benefit to build here.

Account Closed Knowing your market is critical to whether you are an investor or a speculator.Here is the short list of what you need to know:*  Rents*  Sales comps*  Taxes*  DOM*  Profit potential  (formula)*  Seller's or Buyer's market*  Market saturation*  Interest and availability of tenants and/or buyers*  Cost of homes for sale (not the same as sales comps)*  Quality of neighborhood (stats, but eyeball test works even better when you inspect a property)Joe VilleneuveREcapSystemA2REIC

I always look to refinance to get my equity out of my rentals (good debt), but I pay off my own home (bad debt).Joe VilleneuveREcapSystemA2REIC

I know I was reviewing a lot of Joe McCall's wholesaling these type of transactions and I wanted to get out there and try one, if I fail that's fine but I want to work my way through to try and learn from it.

Was the contractor over extended on his labor?

After negotiating a price he aid he old so it for that price when he had another job in the vicinity to save money now materials/labor.  

Joe Gore