Thomas, welcome to Bigger Pockets and congratulations on your first acquisition.

Good luck with your acquisition of assets!

I am looking at my first real "commercial" apartment building and like most things I'm starting off small... 6 unit building, I own a 4 plex, 3 duplexes and several SFH's, so I'm not totally new to the game, but all the previous properties I bought at deep deep discounts, all foreclosed, all cash deals, all in terrible awful shape, all are now rehabbed beautiful and cash flowing very well.So this leads me to this 6 plex, its in an area I already own duplexes, I finally this week contacted the owner, turns out he's ready to sell, hes owned the property since 1981 with his brother, his brother is 10 years older then he is and can't do any of the work anymore. so...

So, I finally got the Marketing Machine up'n'running.

Finally, I have been listening to the podcasts featuring you and Joshua Dorkin.

We have long term goals but short term, for our first acquisition, is beating the streets good enough?

I finally told her to start a business.

I'm eager to finally take action and learn while creating a win-win situation for someone with years of experience.

Determine the ARV for a finished home comparable to what you'll buildSubtract selling costsSubtract construction costsSubtract land development costsSubtract acquisition costsSubtract carry costsSubtract your desired revenue= property value for you.Comps are irrelevant in land buys UNLESS your property valuation is greater than a comparable property.

Studio one two three four bedFinal FY2012 FMR $487 $556 $685 $922 $1,100 Fina l 2011 FMR $508 $580 $714 $961 $1,147