There was a brief period a couple of years ago where demand was out-pacing supply by a large margin, but that has calmed down.

And with lehigh there are still 100k or more vacant lots so you have a classic supply demand.Lastly  ATL  land deals.. this one still bugs the crap out of me..

It just seemed limited supply and expensive for whats left over.

They'd be a partner and help provide solutions to operational challenges when scaling, we'd bring tech in like Breezeway for scheduling, give them a company card with spend limits to buy supplies, they even ended up landing a deal with a local laundromat to wash and fold there after-hours to make their lives and ours easier.Truly a win-win. 

I was hoping to structure a deal that involves paying the seller every month and then a balloon payment in 5 years (when I can get an 80% LTV cash out refinance to put a mortgage on the property without having to put any money down because I'll have built up at least 20%).

It is generally a bad time to find a tenant (holidays coming up) but you might have some luck in that the supply of housing is probably very low in the city now.

Private money lending offers the ability to structure deals in ways traditional lenders won’t, such as faster closings and tailored terms like interest-only payments or balloon payments.

Thus, if you factor in your 1/2 month lost rent and utilities, plus any costs (even purchasing more supplies) to touch up paint and clean, wouldn't that still be a turnover cost of around $1000 (give or take since I don't know what your rent, utilities, paint, and cleaning services might be)?

After recent significant increases in property taxes, homeowners insurance, utility costs, supply costs, maintenance costs, and construction costs the margins are thinner to a significant degree.

I knew about the 144K and 32K mortgages - not sure how they ballooned to 300K.