Also this opportunity came through a turnkey rental company so there was additional premium baked in and as an out of state investor, I was not planning to visit there and don't know anyone who lives there either.

Plan was a long term hold as a short term rental.Step 2 - the plan to fund this project was through the sale of another property and monthly income/savings.

Hello BP Community, we're having to bring an unpermitted unit in an older building up to code for a dwelling space and need plans drawn up to submit to the city.

Some things I advise folks having seen partnerships go south - Get really clear not just on who does what but contingency plans.

As for an offer, start with your ARV and subtract out your renovation costs, financing costs, a reserve amount for contingencies, any profit margin if you plan on flipping it, closing costs for both the buy and sell sides, and soft costs for the permitting, etc.

Since you plan to put that money into another property, I recommend a refi. 

If you plan on buying more rentals in the short term, Nathan's approach is the best. 

Use plan for cash purchase at list price $100K and title the property to solo 401(k) plan. 

I am now planning to buy some properties in Toledo for the cash flow, and collecting some data.

(FYI, We are trying to build a small (5 to 6 properties), high quality portfolio in the next 5 years, planning on putting 25-30% down)The investment opportunity in question is a new build, single-family home with a 3-bedroom, 2-bathroom layout, accompanied by a 2-car garage, located in the neighborhood of Wesley Chapel, FL.