Although every direction seems to be a road block.

A block can make a difference as to whether it is in the flood plain or floodway which can make a difference in what you can do.

The property is not on the market yet and He told me that he wants $280k but I’ve done my research and checked Coms in the area and they all are going for $325k average within a 3 block radius.

**the previous owner own another property on the same block in which he shows interest in selling in the near future.

When my high bid fails to meet a reserve price, the property goes back on the auction block again, and again...   

(No pics or anything, so just going off of neighborhood and nearby comparisons)3) Appreciation looks promising - A block away from a huge urban development of an old sears distribution center crosstownconcourse.com4) Reno was said to be around 50kIs it not necessarily a bad deal, but just a lot of up-front capital for the Reno?

However, if you are in are in a D class neighborhood it may be a tougher turnaround by dumping more capital into the property only to have the best piece of crap on the block.

Purchase Price: $56,000SFR: 3/2, 1232 SF, Wood frame on block foundation, Built 1986Distance to downtown Orlando: 45 minutesRehab: $42,000Realtor commission: 6%Labor partner profit split: 50%ARV/Sale Price: $129,900Hard Money terms: 10.5% interest, 4.5 points, 9 month amortization (with no payments)At the outset of this project, I had 4 rental units and I took this on as a starving Realtor with no clients and no business.

Just driving the blocks around the target property may provide some good info.4.

It has electric but no plumbing and it is attached to 116 at the roof line and the electric is also joined to 116. 114 is also bundled into the lease for 116.116   is a approximate 1100 Square foot Double wide trailer that is permanently mounted onto a concrete block foundation. 116 has a concrete driveway that is also a boat ramp that goes into the canal that leads to Sound. 116 has had many renovations done.