Now some investors frown upon this, but in areas like Phoenix or Atlanta, you'd be dumb to ignore the potential for appreciation because it's a fact of life in these fast-growing, healthy cities.  

My personal assessment is the market is beyond healthy currently.

He says he’ll give me a good rate for 5 years and then come back in 5 and offer another rate at below market assuming his health is good.

If you are not planning to do any site work and disturb things down the road then you probably have less exposure--I think your lender is going to drive things, but when you see what can be required if you have any issues.you might contact these folks and see what they might bid for a review.if you pm me I can provide you someone who did some soil work for us in DC much lower than the going prices.

Nice cash deal, getting the bank-owned home for cheap, it looked to be about a month's work for the contractor and a healthy profit for the owner once it was sold.

A disturbing number of them are living in way too much house, driving way too much car, and are not saving or investing enough of their healthy paychecks.

@Nick Causa80% can be achieved but you will need a very healthy DSCR.  

Sinking soil is a good indication that there is a leak failure. 

He bought the land for $1200 back in the 1970's and he just wanted to finish the project.I will list it as three separate listings, and the numbers are very healthy for my market (university town).When I run my personal proforma, I don't look at the AirBnb numbers. 

If the soil underneath still has further potential for settlement, the jacking will only be a temporary fix.