I feel it's always best to collaborate with others on such issues and people like you and Mike make this forum a great resource.

What people fail to realize with many seconds is these are desktop appraisals, which is not someone even visiting the home, and the CLTV also can be way off from the appraisal.So personally i agree, for my business - we see it as opportunity. 

They always get contacted by investors looking for deals and a realtor can help the entire process be more trustworthy and smoother than some random person on FB.I myself am a realtor here in Houston with a buyers list I have developed over my last five years of being in the investment real estate space.

If you want to chat more about my experience, feel free to DM me!

I don't want to hurt their feelings however, this will require a lot of logistics on my part to make this purchase happen.  

I'm going to run some details by you and I'd like all of you who feel you are qualified to advise me so I can learn how to properly analyze these deals and be more cognizant of potential pitfalls/mistakes:So, I found this property off market in a Chicago real estate investment group.

@David Zhu I host a meetup in Los Gatos.If you interested in out of state multi family feel free to check it out :meetup.com/Los-Gatos-Real-Estate-Networking-Meetup/

Feel free to reach out to me anytime.

@Christopher Walrod if your personal situation allows you to house hack it can be a huge shortcut to becoming a real estate investor.

Having trouble analyzing this deal as there are so many variables and I do not have the experiencing analyzing deals to make me feel comfortable taking the risk.Purchase price of the land would be $250,000 not including closing cost or fees, and construction for a new 3/2 home with an attached 1/1 ADU is estimated to cost around $300,000 - $400,000 finished.